WAVE Life Sciences Ltd. (NASDAQ:WVE) Stock Has Consensus Price Target of $21.53 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on WAVE Life Sciences, with 16 buy ratings, one strong buy, two holds and one sell. The average 12-month price target is $21.53.
• WVE shares opened at $3.18, near their 52-week low of $3.04 and well below the 52-week high of $21.73. The company’s latest quarterly results missed expectations, reporting a $0.34 per-share loss and $2.27 million in revenue versus a $7.45 million estimate.
• Institutional investors own 89.73% of the stock, with several funds increasing their positions. Meanwhile, company insiders sold 23,564 shares worth approximately $132,476 over the past three months.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $21.53.

A number of brokerages recently issued reports on WVE. JPMorgan Chase & Co. assumed coverage on shares of WAVE Life Sciences in a research report on Wednesday, September 23rd. They issued a "neutral" rating for the company. B. Riley Financial lowered their target price on shares of WAVE Life Sciences from $31.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. LADENBURG THALM/SH SH assumed coverage on shares of WAVE Life Sciences in a research report on Thursday, October 1st. They set a "buy" rating and a $10.00 price target on the stock. UBS Group initiated coverage on shares of WAVE Life Sciences in a research note on Thursday, October 15th. They issued a "buy" rating and a $11.00 price target for the company. Finally, Wall Street Zen cut shares of WAVE Life Sciences from a "hold" rating to a "strong sell" rating in a report on Saturday, August 1st.

Insider Activity at WAVE Life Sciences

In related news, Director Adrian Rawcliffe sold 12,700 shares of the business's 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $42,070.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 23,564 shares of company stock worth $132,476. 24.34% of the stock is owned by corporate insiders.

Institutional Trading of WAVE Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Readystate Asset Management LP bought a new position in WAVE Life Sciences during the second quarter valued at about $27,465,000. Squarepoint Ops LLC grew its holdings in WAVE Life Sciences by 68.0% during the second quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company's stock worth $14,766,000 after acquiring an additional 1,029,052 shares during the period. Pictet Asset Management Holding SA raised its position in WAVE Life Sciences by 42.6% in the first 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 in the last quarter. Renaissance Technologies LLC raised its position in WAVE Life Sciences by 152.6% in the first 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its position in WAVE Life Sciences by 12.4% in the first quarter. Bank of New York Mellon Corp now owns 361,204 shares of the company's stock worth $2,619,000 after acquiring an additional 39,759 shares in the last quarter. Institutional investors own 89.73% of the company's stock.

WAVE Life Sciences Stock Performance

Shares of WVE stock opened at $3.18 on Friday. WAVE Life Sciences has a 1 year low of $3.04 and a 1 year high of $21.73. The stock has a fifty day moving average of $4.23 and a two-hundred day moving average of $5.60. The firm has a market capitalization of $627.19 million, a PE ratio of -2.92 and a beta of -1.43.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $7.45 million. Equities research analysts predict that WAVE Life Sciences will post -1.12 earnings per share for the current fiscal year.

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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