LADENBURG THALM/SH SH Initiates Coverage on WAVE Life Sciences (NASDAQ:WVE)

Key Points

• Ladenburg Thalmann initiated coverage of WAVE Life Sciences with a “buy” rating and a $10 price target, implying approximately 170% upside from the stock’s $3.70 price.
• Analyst sentiment is generally favorable, with 15 buy ratings, two holds and one sell; the consensus rating is “Moderate Buy,” with an average price target of $21.59.
• WAVE reported weaker-than-expected quarterly results, including a loss of $0.34 per share versus a $0.30 consensus loss and revenue of $2.27 million versus $7.45 million expected.

Analysts at LADENBURG THALM/SH SH began coverage on shares of WAVE Life Sciences (NASDAQ:WVE - Get Free Report) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set a "buy" rating and a $10.00 price target on the stock. LADENBURG THALM/SH SH's price target points to a potential upside of 170.27% from the stock's current price.

A number of other equities analysts also recently commented on the stock. Zacks Research downgraded shares of WAVE Life Sciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. initiated coverage on shares of WAVE Life Sciences in a research report on Wednesday, September 23rd. They set a "neutral" rating for the company. Wedbush cut their price objective on WAVE Life Sciences from $15.00 to $12.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. New Street Research set a $13.00 target price on WAVE Life Sciences in a research note on Thursday, June 11th. Finally, Mizuho dropped their target price on WAVE Life Sciences from $27.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, August 4th. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.59.

WAVE Life Sciences Price Performance

NASDAQ WVE opened at $3.70 on Thursday. The firm has a market capitalization of $729.09 million, a P/E ratio of -3.39 and a beta of -1.30. WAVE Life Sciences has a 1-year low of $3.56 and a 1-year high of $21.73. The business's 50-day simple moving average is $5.02 and its 200-day simple moving average is $6.33.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.04). The business had revenue of $2.27 million for the quarter, compared to analyst estimates of $7.45 million. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. On average, equities research analysts expect that WAVE Life Sciences will post -1.12 EPS for the current fiscal year.

Insider Activity at WAVE Life Sciences

In other news, Director Adrian Rawcliffe sold 12,700 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi L. Wagner sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the sale, the director directly owned 44,930 shares of the company's stock, valued at $270,029.30. The trade was a 13.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,564 shares of company stock worth $132,476 over the last 90 days. 24.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. AlphaCentric Advisors LLC raised its stake in shares of WAVE Life Sciences by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company's stock valued at $212,000 after purchasing an additional 1,585 shares in the last quarter. First Trust Advisors LP grew its stake in WAVE Life Sciences by 15.7% in the first quarter. First Trust Advisors LP now owns 13,518 shares of the company's stock worth $98,000 after purchasing an additional 1,830 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in WAVE Life Sciences in the fourth quarter worth about $82,000. Arizona State Retirement System increased its holdings in WAVE Life Sciences by 17.1% in the second quarter. Arizona State Retirement System now owns 35,826 shares of the company's stock valued at $208,000 after buying an additional 5,228 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in WAVE Life Sciences by 23.0% in the first quarter. Quantinno Capital Management LP now owns 47,885 shares of the company's stock valued at $347,000 after buying an additional 8,960 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

About WAVE Life Sciences

WAVE Life Sciences Ltd. NASDAQ: WVE is a biotechnology company focused on developing medicines that target RNA, the biological molecule that helps translate genetic information into proteins. The company uses its oligonucleotide chemistry and delivery technologies to pursue treatments for genetically defined diseases, including conditions affecting the liver, muscles and nervous system.

WAVE's research programs include RNA editing medicines designed to correct or modify disease-related genetic messages without permanently altering DNA.

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