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

Key Points

• WAVE Life Sciences Ltd. received a consensus rating of "Moderate Buy" from fifteen research firms, with fourteen recommending to buy and one to hold.
• Recent insider trading includes CEO Paul Bolno, who sold 217,351 shares, reducing his ownership by 64.24%, alongside Director Ken Takanashi who sold 4,872 shares.
• Institutional investors now own 89.73% of the company's stock, highlighting significant interest and investment in WAVE Life Sciences.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.3333.

WVE has been the topic of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Oppenheimer initiated coverage on shares of WAVE Life Sciences in a report on Monday, July 28th. They issued an "outperform" rating and a $24.00 price objective on the stock. Wedbush restated an "outperform" rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a report on Monday, June 23rd. B. Riley restated a "buy" rating on shares of WAVE Life Sciences in a report on Thursday, September 4th. Finally, Citigroup started coverage on shares of WAVE Life Sciences in a report on Wednesday, July 16th. They set a "buy" rating and a $16.00 target price on the stock.

Insider Buying and Selling at WAVE Life Sciences

In other WAVE Life Sciences news, Director Ken Takanashi sold 4,872 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total transaction of $42,630.00. Following the sale, the director directly owned 5,716,303 shares in the company, valued at $50,017,651.25. This represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Bolno sold 217,351 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $10.10, for a total transaction of $2,195,245.10. Following the sale, the chief executive officer owned 121,000 shares in the company, valued at approximately $1,222,100. This trade represents a 64.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,893 shares of company stock valued at $2,423,068 in the last quarter. Corporate insiders own 23.98% of the company's stock.

Institutional Investors Weigh In On WAVE Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of WVE. Adage Capital Partners GP L.L.C. raised its holdings in shares of WAVE Life Sciences by 30.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company's stock valued at $101,133,000 after purchasing an additional 2,894,396 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of WAVE Life Sciences by 35.3% in the 2nd quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company's stock valued at $21,422,000 after purchasing an additional 859,160 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of WAVE Life Sciences in the 4th quarter valued at $10,463,000. Stempoint Capital LP raised its holdings in shares of WAVE Life Sciences by 902.2% in the 2nd quarter. Stempoint Capital LP now owns 900,338 shares of the company's stock valued at $5,852,000 after purchasing an additional 810,505 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of WAVE Life Sciences by 33.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,569,015 shares of the company's stock valued at $10,199,000 after purchasing an additional 390,078 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

WAVE Life Sciences Stock Performance

Shares of WVE stock opened at $6.96 on Friday. The firm's 50 day moving average price is $8.44 and its 200-day moving average price is $7.70. WAVE Life Sciences has a one year low of $5.28 and a one year high of $16.74. The firm has a market cap of $1.11 billion, a P/E ratio of -7.73 and a beta of -1.15.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to analysts' expectations of $11.52 million. As a group, research analysts predict that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

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.

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