Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Wave Life Sciences Ltd. (NASDAQ:WVE) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $10.14.

WVE has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $5.00 target price on shares of Wave Life Sciences in a report on Thursday, March 7th. Truist Financial reiterated a “buy” rating and issued a $17.00 target price on shares of Wave Life Sciences in a report on Monday, April 1st. StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, HC Wainwright boosted their price target on shares of Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th.

Wave Life Sciences Stock Down 6.4 %

Shares of NASDAQ WVE opened at $5.75 on Tuesday. The stock has a market capitalization of $703.34 million, a price-to-earnings ratio of -10.45 and a beta of -0.99. Wave Life Sciences has a 52 week low of $3.15 and a 52 week high of $7.67. The firm has a 50-day simple moving average of $5.70 and a 200-day simple moving average of $5.18.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $29.06 million for the quarter, compared to analyst estimates of $23.30 million. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. As a group, equities research analysts expect that Wave Life Sciences will post -0.94 EPS for the current year.

Insider Buying and Selling

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total value of $96,437.10. Following the sale, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 31.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WVE. SG Americas Securities LLC purchased a new position in Wave Life Sciences during the 3rd quarter worth $149,000. TD Asset Management Inc purchased a new position in shares of Wave Life Sciences in the 3rd quarter valued at about $935,000. Jump Financial LLC purchased a new position in shares of Wave Life Sciences in the 3rd quarter valued at about $135,000. James J. Burns & Company LLC increased its holdings in shares of Wave Life Sciences by 10.2% in the 3rd quarter. James J. Burns & Company LLC now owns 33,049 shares of the company’s stock valued at $190,000 after purchasing an additional 3,049 shares in the last quarter. Finally, Newtyn Management LLC increased its holdings in shares of Wave Life Sciences by 2.0% in the 3rd quarter. Newtyn Management LLC now owns 510,000 shares of the company’s stock valued at $2,932,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.