WAVE Life Sciences (NASDAQ:WVE) Earns Buy Rating from B. Riley Financial

Key Points

• B. Riley Financial reiterated its Buy rating on WAVE Life Sciences and set an $18 price target, implying 438.12% upside from the stock’s then-current price of $3.35.
• Analyst views were broadly positive: MarketBeat reported an average rating of “Moderate Buy” and an average price target of $20.67, with 17 of 20 analysts rating the shares Buy or Strong Buy.
• WAVE reported quarterly revenue of $13.16 million, above the $4.51 million analyst consensus, and a loss of $0.30 per share, narrower than the expected $0.33 loss.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report)'s stock had its "buy" rating restated by equities researchers at B. Riley Financial in a research note issued on Monday, Benzinga reports. They presently have a $18.00 target price on the stock. B. Riley Financial's price objective would indicate a potential upside of 438.12% from the stock's current price.

Several other research analysts have also recently issued reports on WVE. LADENBURG THALM/SH SH started coverage on shares of WAVE Life Sciences in a report on Thursday, October 1st. They issued a "buy" rating and a $10.00 target price on the stock. Citigroup lowered their price target on shares of WAVE Life Sciences from $24.00 to $19.00 and set a "buy" rating for the company in a report on Friday, July 31st. Mizuho lowered their price target on shares of WAVE Life Sciences from $27.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, August 4th. Wall Street Zen raised shares of WAVE Life Sciences from a "strong sell" rating to a "hold" rating in a research report on Saturday, October 31st. Finally, Leerink Partners set a $10.00 price target on shares of WAVE Life Sciences in a report on Tuesday, October 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WAVE Life Sciences has an average rating of "Moderate Buy" and an average target price of $20.67.

WAVE Life Sciences Stock Performance

WVE traded down $0.03 on Monday, hitting $3.35. 304,436 shares of the company were exchanged, compared to its average volume of 3,691,127. The firm has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $7.23. WAVE Life Sciences has a 12 month low of $3.04 and a 12 month high of $21.73. The stock has a market capitalization of $659.73 million, a PE ratio of -3.13 and a beta of -1.40.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.03. WAVE Life Sciences had a negative return on equity of 44.66% and a negative net margin of 296.86%. The business had revenue of $13.16 million for the quarter, compared to analysts' expectations of $4.51 million. On average, equities analysts expect that WAVE Life Sciences will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In other WAVE Life Sciences news, Director Heidi Wagner sold 7,000 shares of the company'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 completion of the transaction, the director owned 44,930 shares of the company's stock, valued at $270,029.30. This represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $67,183.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,564 shares of company stock valued at $132,476 in the last ninety days. 24.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in WAVE Life Sciences in the third quarter worth $48,000. AlphaGrep UK Ltd bought a new stake in WAVE Life Sciences in the second quarter valued at $78,000. First Trust Advisors LP boosted its holdings 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 valued at $98,000 after acquiring an additional 1,830 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in WAVE Life Sciences in the first quarter valued at $124,000. Finally, Gabelli Funds LLC bought a new stake in WAVE Life Sciences in the first quarter valued at $127,000. Institutional investors own 89.73% of the company's stock.

About WAVE Life Sciences

WAVE Life Sciences Ltd. NASDAQ: WVE is a biotechnology company focused on developing medicines that act on RNA, a molecule involved in translating genetic information into proteins. The company uses its proprietary chemistry and drug-design technologies to create oligonucleotide therapeutics intended to selectively modify RNA and address the underlying causes of genetic diseases.

Its research programs have included RNA editing and RNA-targeting approaches for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy and other serious genetic disorders.

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