Wave Life Sciences (NASDAQ:WVE) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $22.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Truist Financial upped their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Leerink Partners lifted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $21.89.

Wave Life Sciences Trading Down 1.3 %

WVE stock opened at $15.69 on Wednesday. The firm has a market capitalization of $1.96 billion, a PE ratio of -14.14 and a beta of -1.20. The business’s 50 day simple moving average is $10.40 and its 200 day simple moving average is $7.41. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 694.73%. The business had revenue of ($7.68) million during the quarter, compared to the consensus estimate of $15.45 million. As a group, sell-side analysts predict that Wave Life Sciences will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

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, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now directly 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 valued at $5,221,768. Corporate insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after buying an additional 856 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Wave Life Sciences during the second quarter valued at about $53,000. Principal Financial Group Inc. purchased a new position in Wave Life Sciences during the second quarter worth about $74,000. Finally, Mackenzie Financial Corp grew its position in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Company Profile

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.