WAVE Life Sciences Ltd. (NASDAQ:WVE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $20.50.

Several research firms recently issued reports on WVE. HC Wainwright reiterated a "buy" rating and issued a $22.00 target price on shares of WAVE Life Sciences in a research note on Wednesday, March 26th. Raymond James Financial began coverage on shares of WAVE Life Sciences in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 target price for the company. Wall Street Zen cut shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. Wedbush reiterated an "outperform" rating and issued a $18.00 target price on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Finally, Cantor Fitzgerald began coverage on shares of WAVE Life Sciences in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price for the company.

WAVE Life Sciences Trading Up 10.8%

Shares of WVE stock traded up $0.75 during trading hours on Friday, hitting $7.70. The company's stock had a trading volume of 1,702,119 shares, compared to its average volume of 1,290,965. The company has a 50 day moving average of $6.71 and a 200 day moving average of $8.85. The stock has a market cap of $1.20 billion, a PE ratio of -9.17 and a beta of -1.01. WAVE Life Sciences has a 12-month low of $5.04 and a 12-month high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. As a group, analysts anticipate that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gregory L. Verdine sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the sale, the director owned 282,517 shares of the company's stock, valued at $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.98% of the stock is currently owned by company insiders.

Institutional Trading of WAVE Life Sciences

Several hedge funds have recently added to or reduced their stakes in WVE. Bank of New York Mellon Corp raised its holdings in WAVE Life Sciences by 21.4% in the fourth quarter. Bank of New York Mellon Corp now owns 244,973 shares of the company's stock valued at $3,030,000 after acquiring an additional 43,143 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in WAVE Life Sciences by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 914,469 shares of the company's stock valued at $11,312,000 after acquiring an additional 69,852 shares in the last quarter. Victory Capital Management Inc. raised its holdings in WAVE Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock valued at $180,000 after acquiring an additional 2,073 shares in the last quarter. Aigen Investment Management LP acquired a new stake in WAVE Life Sciences in the fourth quarter valued at approximately $270,000. Finally, Arizona State Retirement System raised its holdings in WAVE Life Sciences by 34.2% in the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after acquiring an additional 7,846 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

About WAVE Life Sciences

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.