WAVE Life Sciences Ltd. (NASDAQ:WVE) Given Consensus Rating of “Moderate Buy” by Brokerages

WAVE Life Sciences Ltd. (NASDAQ:WVE) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.50.

Several equities analysts have recently weighed in on WVE shares. Wedbush reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Cantor Fitzgerald initiated coverage on WAVE Life Sciences in a report on Tuesday, April 29th. They set an “overweight” rating and a $10.00 target price on the stock. Wall Street Zen downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of WAVE Life Sciences in a report on Wednesday, March 26th. Finally, Raymond James Financial initiated coverage on WAVE Life Sciences in a report on Wednesday, June 11th. They set an “outperform” rating and a $14.00 target price on the stock.

WAVE Life Sciences Trading Up 3.3%

Shares of NASDAQ:WVE opened at $6.97 on Friday. The stock’s 50-day moving average price is $6.72 and its two-hundred day moving average price is $8.94. WAVE Life Sciences has a 12-month low of $5.04 and a 12-month high of $16.74. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -8.30 and a beta of -1.01.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The business had revenue of $9.18 million during the quarter, compared to analysts’ expectations of $11.65 million. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, research analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Gregory L. Verdine sold 30,000 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the sale, the director owned 282,517 shares of the company’s stock, valued at approximately $1,963,493.15. This represents a 9.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WVE. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of WAVE Life Sciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company’s stock valued at $151,000 after acquiring an additional 1,564 shares during the period. Victory Capital Management Inc. raised its position in shares of WAVE Life Sciences by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after acquiring an additional 2,073 shares during the period. Bank of New York Mellon Corp raised its position in shares of WAVE Life Sciences by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 247,251 shares of the company’s stock valued at $1,998,000 after acquiring an additional 2,278 shares during the period. Summit Investment Advisors Inc. raised its position in shares of WAVE Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after acquiring an additional 2,308 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of WAVE Life Sciences in the 4th quarter valued at approximately $40,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.