WAVE Life Sciences (NASDAQ:WVE) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a research report report published on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $18.00 price target on the stock.

Several other brokerages have also recently commented on WVE. B. Riley reiterated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, September 4th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of WAVE Life Sciences in a research note on Wednesday, September 3rd. Canaccord Genuity Group assumed coverage on shares of WAVE Life Sciences in a research note on Monday, August 4th. They issued a “buy” rating and a $19.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $18.00 price target on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, WAVE Life Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

WAVE Life Sciences Stock Performance

WVE opened at $7.81 on Monday. WAVE Life Sciences has a fifty-two week low of $5.28 and a fifty-two week high of $16.74. The firm’s fifty day moving average is $8.06 and its 200 day moving average is $7.36. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -8.68 and a beta of -1.37.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million for the quarter, compared to the consensus estimate of $11.52 million. On average, equities research analysts predict 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 Ken Takanashi sold 4,872 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total value of $42,630.00. Following the sale, the director directly owned 5,716,303 shares in the company, valued at $50,017,651.25. The trade was a 0.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christian O. Henry sold 9,670 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total transaction of $85,192.70. Following the completion of the sale, the director owned 29,645 shares in the company, valued at approximately $261,172.45. This trade represents a 24.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,893 shares of company stock valued at $2,423,068. Corporate insiders own 23.98% of the company’s stock.

Institutional Trading of WAVE Life Sciences

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings 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 last quarter. Moody Aldrich Partners LLC grew its holdings in WAVE Life Sciences by 10.4% during the 1st quarter. Moody Aldrich Partners LLC now owns 439,827 shares of the company’s stock valued at $3,554,000 after purchasing an additional 41,352 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in WAVE Life Sciences by 0.9% during 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 purchasing an additional 2,278 shares during the last quarter. New York State Common Retirement Fund grew its holdings in WAVE Life Sciences by 38.0% during the 1st quarter. New York State Common Retirement Fund now owns 150,513 shares of the company’s stock valued at $1,216,000 after purchasing an additional 41,429 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. grew its holdings in WAVE Life Sciences by 150.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the company’s stock valued at $848,000 after purchasing an additional 63,000 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Company Profile

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.