Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Rating of “Buy” by Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE) has earned an average recommendation of “Buy” from the twelve research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $21.17.

WVE has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Cantor Fitzgerald initiated coverage on shares of Wave Life Sciences in a report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 target price on the stock. StockNews.com cut shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Wedbush initiated coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price on the stock.

Insider Buying and Selling

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the transaction, the director now owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This trade represents a 39.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the transaction, the chief executive officer now directly owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This represents a 33.31% decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ascent Group LLC bought a new position in shares of Wave Life Sciences during the first quarter valued at $83,000. Goldman Sachs Group Inc. increased its holdings in shares of Wave Life Sciences by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock valued at $4,506,000 after acquiring an additional 20,624 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Wave Life Sciences by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after acquiring an additional 4,957 shares in the last quarter. Allostery Investments LP bought a new position in shares of Wave Life Sciences during the first quarter valued at $141,000. Finally, 683 Capital Management LLC increased its holdings in shares of Wave Life Sciences by 3.7% during the first quarter. 683 Capital Management LLC now owns 3,925,000 shares of the company’s stock valued at $31,714,000 after acquiring an additional 140,000 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $6.33 on Friday. Wave Life Sciences has a one year low of $4.25 and a one year high of $16.74. The firm’s 50 day simple moving average is $7.42 and its two-hundred day simple moving average is $10.89. The stock has a market capitalization of $975.39 million, a P/E ratio of -5.70 and a beta of -0.92.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of $9.18 million for the quarter, compared to the consensus estimate of $11.65 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. As a group, equities analysts expect that Wave Life Sciences will post -1.14 earnings per share for the current fiscal year.

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.