HC Wainwright Reaffirms “Buy” Rating for Wave Life Sciences (NASDAQ:WVE)

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $22.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 60.58% from the company’s current price.

WVE has been the topic of a number of other research reports. Wells Fargo & Company increased their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Leerink Partners increased their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. Raymond James upgraded 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 note on Wednesday, October 16th. Finally, B. Riley raised their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $19.44.

Wave Life Sciences Trading Down 4.3 %

Shares of Wave Life Sciences stock traded down $0.62 during trading hours on Thursday, reaching $13.70. 211,889 shares of the company’s stock were exchanged, compared to its average volume of 1,097,587. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -26.17 and a beta of -1.10. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $15.92. The company has a fifty day moving average of $8.55 and a 200-day moving average of $6.72.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) 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 analyst estimates of $24.80 million. During the same period in the previous year, the business posted ($0.20) earnings per share. On average, equities research analysts anticipate that Wave Life Sciences will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences 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 sale, the chief executive officer now directly owns 359,059 shares in the company, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wave Life Sciences 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 completion of the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Francis sold 208,836 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 364,822 shares of company stock valued at $4,645,768. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. James J. Burns & Company LLC boosted its position in Wave Life Sciences by 11.2% during the 3rd quarter. James J. Burns & Company LLC now owns 100,111 shares of the company’s stock valued at $821,000 after purchasing an additional 10,111 shares during the period. Emerald Advisers LLC lifted its stake in Wave Life Sciences by 15.6% in the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock valued at $23,628,000 after buying an additional 388,280 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Wave Life Sciences by 16.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after acquiring an additional 302,528 shares during the period. US Bancorp DE grew its position in shares of Wave Life Sciences by 53.9% during the third quarter. US Bancorp DE now owns 18,043 shares of the company’s stock worth $148,000 after acquiring an additional 6,316 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Wave Life Sciences by 66.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,991 shares of the company’s stock worth $197,000 after acquiring an additional 9,603 shares during the period. 89.73% of the stock is currently 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.