WAVE Life Sciences (NASDAQ:WVE) Research Coverage Started at Citigroup

Citigroup started coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a research report sent to investors on Wednesday, Marketbeat reports. The firm issued a buy rating and a $16.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. Cantor Fitzgerald started coverage on shares of WAVE Life Sciences in a research note on Tuesday, April 29th. They set an “overweight” rating and a $10.00 target price on the stock. Raymond James Financial started coverage on shares of WAVE Life Sciences in a report on Wednesday, June 11th. They set an “outperform” rating and a $14.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of WAVE Life Sciences in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.15.

WAVE Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $8.34 on Wednesday. The company has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $8.60. The company has a market capitalization of $1.30 billion, a P/E ratio of -9.93 and a beta of -1.01. WAVE Life Sciences has a 52-week low of $5.04 and a 52-week high of $16.74.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $9.18 million for the quarter, compared to analysts’ expectations of $11.65 million. During the same period in the previous year, the business earned ($0.24) EPS. As a group, equities analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current 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 transaction of $208,500.00. Following the transaction, the director owned 282,517 shares in the company, valued at approximately $1,963,493.15. This represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.98% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of WAVE Life Sciences during the 4th quarter valued at approximately $256,000. Corebridge Financial Inc. lifted its stake in shares of WAVE Life Sciences by 10.7% during the 4th quarter. Corebridge Financial Inc. now owns 45,824 shares of the company’s stock valued at $567,000 after buying an additional 4,423 shares in the last quarter. Vanguard Group Inc. lifted its stake in WAVE Life Sciences by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company’s stock worth $39,368,000 after purchasing an additional 294,956 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in WAVE Life Sciences by 23.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,392 shares of the company’s stock worth $648,000 after purchasing an additional 9,907 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in WAVE Life Sciences by 58.5% in the 4th quarter. Bank of America Corp DE now owns 435,896 shares of the company’s stock worth $5,392,000 after purchasing an additional 160,820 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

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.