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

WAVE Life Sciences Ltd. (NASDAQ:WVE) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $19.50.

A number of equities analysts have recently commented on WVE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Wednesday, October 8th. Leerink Partners set a $26.00 target price on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price target on shares of WAVE Life Sciences in a report on Monday, October 27th. B. Riley reissued a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, September 4th. Finally, Wedbush raised their price objective on shares of WAVE Life Sciences from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th.

Insiders Place Their Bets

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 16,115 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $6.79, for a total value of $109,420.85. Following the sale, the director directly owned 12,700 shares in the company, valued at $86,233. This trade represents a 55.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Several hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB acquired a new stake in WAVE Life Sciences during the 2nd quarter worth $330,000. Invesco Ltd. increased its stake in WAVE Life Sciences by 97.2% in the first quarter. Invesco Ltd. now owns 78,880 shares of the company’s stock valued at $637,000 after purchasing an additional 38,870 shares during the period. Strs Ohio acquired a new position in WAVE Life Sciences in the first quarter valued at $406,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of WAVE Life Sciences by 16.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,974 shares of the company’s stock valued at $339,000 after buying an additional 6,015 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of WAVE Life Sciences by 6.4% during the second quarter. Geode Capital Management LLC now owns 2,759,381 shares of the company’s stock worth $17,938,000 after buying an additional 166,982 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Trading Down 5.7%

WAVE Life Sciences stock opened at $6.99 on Wednesday. The firm has a market capitalization of $1.17 billion, a P/E ratio of -7.77 and a beta of -1.44. WAVE Life Sciences has a twelve month low of $5.28 and a twelve month high of $15.72. The stock’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $7.59.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Monday, November 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $9.85 million. Sell-side analysts predict that WAVE Life Sciences will post -1.14 earnings per share for the current year.

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.