Wave Life Sciences (NASDAQ:WVE) Earns Outperform Rating from Analysts at Wedbush

Wedbush began coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $18.00 price objective on the stock.

WVE has been the subject of a number of other reports. Jefferies Financial Group began coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. Finally, StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wave Life Sciences has an average rating of “Moderate Buy” and an average price target of $22.18.

Wave Life Sciences Stock Down 10.7 %

NASDAQ:WVE opened at $5.48 on Tuesday. The company has a market capitalization of $841.10 million, a PE ratio of -4.94 and a beta of -0.93. Wave Life Sciences has a 52-week low of $4.25 and a 52-week high of $16.74. The stock’s 50 day moving average price is $9.56 and its 200 day moving average price is $11.68.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. As a group, sell-side analysts anticipate that Wave Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Activity

In related news, Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This represents a 39.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the sale, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. This trade represents a 33.31 % decrease in their position. The disclosure for this sale can be found here. Insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in 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 purchasing an additional 2,073 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in 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 last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Wave Life Sciences during the 4th quarter worth $40,000. Kraematon Investment Advisors Inc. lifted its position in Wave Life Sciences by 24.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock worth $246,000 after buying an additional 3,885 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in shares of Wave Life Sciences by 36.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company’s stock valued at $193,000 after acquiring an additional 4,120 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.