Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $22.18 Average PT from Brokerages

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have earned a consensus rating of "Buy" from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $22.18.

Several analysts have recently weighed in on WVE shares. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 26th. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target for the company. StockNews.com raised shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, Wedbush assumed coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 target price on the stock.

Wave Life Sciences Trading Down 0.9 %

WVE stock traded down $0.06 during trading on Tuesday, hitting $6.73. The company had a trading volume of 1,038,975 shares, compared to its average volume of 1,215,154. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -6.06 and a beta of -0.93. The business has a 50 day moving average of $8.49 and a 200 day moving average of $11.52. Wave Life Sciences has a fifty-two week low of $4.25 and a fifty-two week high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.34. The business had revenue of $83.75 million during the quarter, compared to analysts' expectations of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. As a group, equities analysts predict that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Buying and Selling

In other news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on 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 directly owns 338,351 shares of the company's stock, valued at $3,238,019.07. This represents a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christian O. Henry sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now directly owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in shares of Wave Life Sciences in the fourth quarter worth $40,000. Quarry LP acquired a new position in Wave Life Sciences in the 4th quarter worth about $62,000. KBC Group NV purchased a new stake in shares of Wave Life Sciences during the 4th quarter worth about $67,000. Summit Investment Advisors Inc. raised its stake in shares of Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after purchasing an additional 2,308 shares in the last quarter. Finally, Westwood Wealth Management acquired a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $124,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

Wave Life Sciences Company Profile

Wave 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.