WAVE Life Sciences (NASDAQ:WVE) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a report released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $19.00 price objective on the stock.

Several other research firms have also recently weighed in on WVE. Oppenheimer assumed coverage on shares of WAVE Life Sciences in a research report on Monday, July 28th. They set an “outperform” rating and a $24.00 price objective for the company. Raymond James Financial assumed 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 for the company. Citigroup initiated coverage on shares of WAVE Life Sciences in a research report on Wednesday, July 16th. They set a “buy” rating and a $16.00 price target on the stock. Wall Street Zen downgraded shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Friday, May 9th. Finally, Cantor Fitzgerald initiated coverage on WAVE Life Sciences in a research note on Tuesday, April 29th. They set an “overweight” rating and a $10.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.27.

WAVE Life Sciences Stock Up 1.4%

Shares of NASDAQ:WVE opened at $8.75 on Monday. WAVE Life Sciences has a 12-month low of $5.04 and a 12-month high of $16.74. The company’s 50 day moving average price is $7.27 and its two-hundred day moving average price is $8.25. The firm has a market cap of $1.39 billion, a PE ratio of -9.72 and a beta of -0.95.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The business had revenue of $8.70 million during the quarter, compared to analysts’ expectations of $11.52 million. On average, research analysts expect that WAVE Life Sciences will post -1.14 EPS for the current year.

Insider Transactions at WAVE Life Sciences

In other news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $6.95, for a total transaction of $208,500.00. Following the sale, the director directly owned 282,517 shares of the company’s stock, valued at approximately $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in WAVE Life Sciences during the 4th quarter worth about $256,000. Corebridge Financial Inc. lifted its stake in shares of WAVE Life Sciences by 10.7% in the fourth quarter. Corebridge Financial Inc. now owns 45,824 shares of the company’s stock worth $567,000 after acquiring an additional 4,423 shares during the period. Vanguard Group Inc. boosted its holdings in WAVE Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company’s stock valued at $39,368,000 after acquiring an additional 294,956 shares during the last quarter. Principal Financial Group Inc. increased its position in WAVE Life Sciences by 23.9% during the 1st quarter. Principal Financial Group Inc. now owns 308,044 shares of the company’s stock valued at $2,489,000 after purchasing an additional 59,399 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in WAVE Life Sciences by 23.3% during 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 during 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.