WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate WAVE Life Sciences “Moderate Buy”: Fourteen of 17 analysts recommend buying the stock, while two rate it a hold and one a sell. The average 12-month price target is $22.31.
• Shares opened at $3.67, near their 52-week low of $3.60 and well below the 52-week high of $21.73. The company reported a quarterly loss of $0.34 per share and revenue of $2.27 million, missing analyst expectations.
• Institutional investors own 89.73% of the stock, with several funds increasing their positions or initiating new ones. Company insiders, however, sold 23,564 shares worth approximately $132,476 over the past three months.

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.31.

A number of research firms have recently commented on WVE. HC Wainwright reissued a "buy" rating on shares of WAVE Life Sciences in a report on Monday, August 3rd. JPMorgan Chase & Co. started coverage on shares of WAVE Life Sciences in a research note on Wednesday, September 23rd. They issued a "neutral" rating for the company. B. Riley Financial dropped their price objective on shares of WAVE Life Sciences from $31.00 to $22.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Wall Street Zen cut shares of WAVE Life Sciences from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of WAVE Life Sciences in a report on Friday, July 17th.

WAVE Life Sciences Stock Performance

Shares of WVE stock opened at $3.67 on Tuesday. WAVE Life Sciences has a fifty-two week low of $3.60 and a fifty-two week high of $21.73. The stock's fifty day moving average price is $5.11 and its two-hundred day moving average price is $6.48. The company has a market cap of $723.17 million, a PE ratio of -3.37 and a beta of -1.30.

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

Insider Buying and Selling at WAVE Life Sciences

In related news, Director Heidi Wagner sold 7,000 shares of the firm's stock in a transaction 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 owned 44,930 shares of the company's stock, valued at $270,029.30. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Adrian Rawcliffe sold 12,700 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total value of $67,183.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 23,564 shares of company stock worth $132,476. 24.30% of the stock is currently owned by company insiders.

Institutional Trading of WAVE Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP bought a new position in WAVE Life Sciences in the 2nd quarter valued at approximately $27,465,000. Squarepoint Ops LLC boosted its position in WAVE Life Sciences by 68.0% during the 2nd quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company's stock worth $14,766,000 after buying an additional 1,029,052 shares during the period. Pictet Asset Management Holding SA grew its holdings in WAVE Life Sciences by 42.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,149,127 shares of the company's stock worth $8,202,000 after acquiring an additional 343,226 shares during the last quarter. Renaissance Technologies LLC grew its holdings in WAVE Life Sciences by 152.6% during the 1st quarter. Renaissance Technologies LLC now owns 597,220 shares of the company's stock worth $4,330,000 after acquiring an additional 360,800 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in WAVE Life Sciences in the 4th quarter valued at approximately $8,500,000. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Company Profile

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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