Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twelve brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $21.17.
A number of analysts have weighed in on WVE shares. Wedbush started coverage on Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 target price for the company. Jefferies Financial Group initiated coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target on the stock. Wall Street Zen downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Cantor Fitzgerald initiated coverage on Wave Life Sciences in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, March 26th.
Get Our Latest Research Report on Wave Life Sciences
Insider Buying and Selling at Wave Life Sciences
In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the sale, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares of the company's stock, valued at approximately $157,443.55. The trade was a 39.45% decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.
Institutional Trading of Wave Life Sciences
A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. Adage Capital Partners GP L.L.C. increased its holdings in shares of Wave Life Sciences by 30.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company's stock worth $101,133,000 after buying an additional 2,894,396 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Wave Life Sciences by 63.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock worth $63,074,000 after buying an additional 1,972,262 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth approximately $20,545,000. Polar Capital Holdings Plc acquired a new stake in shares of Wave Life Sciences during the 4th quarter worth approximately $12,370,000. Finally, MPM Bioimpact LLC increased its holdings in shares of Wave Life Sciences by 138.5% during the 4th quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company's stock worth $18,422,000 after buying an additional 864,766 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.
Wave Life Sciences Trading Up 0.8%
Shares of NASDAQ WVE traded up $0.05 during trading hours on Friday, reaching $6.09. The stock had a trading volume of 652,891 shares, compared to its average volume of 1,285,318. The firm has a market cap of $938.68 million, a price-to-earnings ratio of -5.49 and a beta of -0.92. The business's fifty day moving average price is $7.09 and its two-hundred day moving average price is $10.68. Wave Life Sciences has a 52-week low of $4.25 and a 52-week high of $16.74.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The company had revenue of $9.18 million for the quarter, compared to analysts' expectations of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same quarter in the prior year, the company earned ($0.24) EPS. Equities research analysts anticipate that Wave Life Sciences will post -1.14 earnings per share for the current fiscal year.
About Wave Life Sciences
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Get Free ReportWave 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.
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