Wave Life Sciences’ (WVE) “Buy” Rating Reiterated at HC Wainwright

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $22.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 126.69% from the stock’s current price.

WVE has been the subject of several other reports. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective for the company. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Wave Life Sciences Stock Up 2.8 %

NASDAQ WVE traded up $0.27 during trading hours on Wednesday, hitting $9.71. The company had a trading volume of 2,024,490 shares, compared to its average volume of 1,092,747. Wave Life Sciences has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The firm has a market cap of $1.49 billion, a P/E ratio of -8.76 and a beta of -1.04. The business has a fifty day simple moving average of $10.86 and a 200-day simple moving average of $11.66.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.34. The company had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. Equities analysts forecast that Wave Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Activity at Wave Life Sciences

In related news, Director Christian O. Henry sold 10,500 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now directly owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred on Friday, March 7th. The stock was 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 directly owns 338,351 shares in the company, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of WVE. GF Fund Management CO. LTD. acquired a new position in Wave Life Sciences in the fourth quarter valued at about $40,000. Quarry LP bought a new position in Wave Life Sciences in the fourth quarter valued at approximately $62,000. KBC Group NV bought a new stake in shares of Wave Life Sciences during the fourth quarter worth $67,000. Point72 DIFC Ltd acquired a new stake in shares of Wave Life Sciences during the third quarter worth $98,000. Finally, Summit Investment Advisors Inc. grew its stake in Wave Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after purchasing an additional 2,308 shares in the last quarter. 89.73% of the stock is owned by 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.