Wave Life Sciences (NASDAQ:WVE) Now Covered by Analysts at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. began coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $13.00 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 56.82% from the company’s current price.

Several other research firms also recently commented on WVE. B. Riley initiated coverage on shares of Wave Life Sciences in a report on Thursday, September 19th. They issued a “buy” rating and a $11.00 price objective for the company. Mizuho reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Wave Life Sciences in a report on Tuesday, June 25th. Finally, HC Wainwright raised their price target on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $13.75.

Wave Life Sciences Trading Up 3.4 %

WVE opened at $8.29 on Friday. The company has a 50 day moving average of $6.03 and a 200 day moving average of $5.85. The company has a market cap of $1.02 billion, a PE ratio of -15.94 and a beta of -1.13. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period last year, the business posted ($0.20) earnings per share. Research analysts forecast that Wave Life Sciences will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. The disclosure for this sale can be found here. Insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in WVE. Emerald Advisers LLC purchased a new stake in shares of Wave Life Sciences during the 2nd quarter valued at $12,441,000. Emerald Mutual Fund Advisers Trust purchased a new position in Wave Life Sciences in the 2nd quarter worth $9,086,000. Artal Group S.A. raised its position in Wave Life Sciences by 34.7% in the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after purchasing an additional 1,044,000 shares during the period. Ikarian Capital LLC purchased a new position in Wave Life Sciences in the 1st quarter worth $3,641,000. Finally, Vanguard Group Inc. raised its position in Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.