Wave Life Sciences (NASDAQ:WVE) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research report report published on Thursday, Benzinga reports. They currently have a $22.00 price objective on the stock.

WVE has been the subject of several other research reports. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. began coverage on shares of Wave Life Sciences in a research note on Friday, September 27th. They issued an “overweight” rating and a $13.00 price target for the company. B. Riley increased their price objective on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Mizuho reaffirmed an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.56.

Wave Life Sciences Trading Up 4.8 %

Shares of Wave Life Sciences stock opened at $15.31 on Thursday. The business has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $6.22. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $15.92. The company has a market cap of $1.88 billion, a P/E ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The business had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Equities research analysts forecast that Wave Life Sciences will post -1 EPS for the current fiscal year.

Insider Activity at Wave Life Sciences

In related news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 364,822 shares of company stock valued at $4,645,768. 29.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its position in shares of Wave Life Sciences by 62.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after buying an additional 348,300 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Wave Life Sciences by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock valued at $698,000 after acquiring an additional 4,914 shares during the last quarter. Millennium Management LLC lifted its holdings in Wave Life Sciences by 1.8% during the second quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock worth $8,305,000 after acquiring an additional 28,690 shares during the period. Finally, AQR Capital Management LLC boosted its position in Wave Life Sciences by 26.3% in the second quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock worth $167,000 after purchasing an additional 6,973 shares during 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.