Wave Life Sciences (NASDAQ:WVE) Downgraded by StockNews.com to “Sell”

Wave Life Sciences (NASDAQ:WVE) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other analysts have also recently weighed in on WVE. Wells Fargo & Company boosted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Truist Financial increased their price target on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday. Royal Bank of Canada raised their price target on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Finally, Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $21.89.

Wave Life Sciences Stock Down 1.3 %

NASDAQ WVE traded down $0.20 during trading on Wednesday, hitting $15.69. The company’s stock had a trading volume of 1,977,391 shares, compared to its average volume of 1,114,048. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74. The firm has a market cap of $1.96 billion, a P/E ratio of -14.14 and a beta of -1.20. The firm has a 50 day moving average price of $10.40 and a 200 day moving average price of $7.41.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). Wave Life Sciences had a negative return on equity of 694.73% and a negative net margin of 66.50%. The business had revenue of ($7.68) million for the quarter, compared to analyst estimates of $15.45 million. On average, equities analysts expect that Wave Life Sciences will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Chris Francis sold 36,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 400,822 shares of company stock worth $5,221,768. 29.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the period. Profund Advisors LLC purchased a new position in Wave Life Sciences during the second quarter valued at approximately $53,000. Principal Financial Group Inc. purchased a new position in shares of Wave Life Sciences during the 2nd quarter valued at $74,000. Finally, Mackenzie Financial Corp boosted its stake in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares during the period. 89.73% of the stock is currently owned by hedge funds and other 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.