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

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.50.

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

WAVE Life Sciences Price Performance

WVE traded up $0.22 on Friday, reaching $6.97. 652,460 shares of the company's stock were exchanged, compared to its average volume of 1,283,451. WAVE Life Sciences has a twelve month low of $5.04 and a twelve month high of $16.74. The stock has a market cap of $1.08 billion, a PE ratio of -8.30 and a beta of -1.01. The stock's fifty day moving average price is $6.72 and its 200-day moving average price is $8.94.

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

Insiders Place Their Bets

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.95, for a total transaction of $208,500.00. Following the transaction, the director directly owned 282,517 shares in the company, valued at $1,963,493.15. This represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.98% of the company's stock.

Institutional Investors Weigh In On WAVE Life Sciences

A number of institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in WAVE Life Sciences by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company's stock valued at $151,000 after acquiring an additional 1,564 shares during the period. Victory Capital Management Inc. raised its stake 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 buying an additional 2,073 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in WAVE Life Sciences by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 247,251 shares of the company's stock worth $1,998,000 after purchasing an additional 2,278 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of WAVE Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after buying an additional 2,308 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in WAVE Life Sciences in the fourth quarter valued at $40,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.