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 earned a consensus rating of "Moderate Buy" from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.50.

WVE has been the subject of several analyst reports. HC Wainwright reissued a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Raymond James began coverage on Wave Life Sciences in a research note on Wednesday. They set an "outperform" rating and a $14.00 target price for the company. Wedbush started coverage on Wave Life Sciences in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 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. Finally, Cantor Fitzgerald started coverage on shares of Wave Life Sciences in a report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price objective on the stock.

Wave Life Sciences Stock Performance

Shares of WVE stock traded down $0.04 during trading hours on Wednesday, reaching $7.19. The company had a trading volume of 1,206,342 shares, compared to its average volume of 1,315,195. Wave Life Sciences has a 12-month low of $4.25 and a 12-month high of $16.74. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.48 and a beta of -1.04. The stock has a fifty day moving average of $6.44 and a 200-day moving average of $9.91.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The company had revenue of $9.18 million for the quarter, compared to analysts' expectations of $11.65 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. On average, analysts forecast that Wave Life Sciences will post -1.14 EPS for the current year.

Insiders Place Their Bets

In related news, Director Christian O. Henry sold 10,500 shares of the company'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 sale, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. This represents a 39.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 modified their holdings of WVE. GF Fund Management CO. LTD. purchased a new position in Wave Life Sciences in the fourth quarter valued at $40,000. Quarry LP acquired a new position in shares of Wave Life Sciences during the 4th quarter worth about $62,000. KBC Group NV purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at about $67,000. Knott David M Jr acquired a new stake in shares of Wave Life Sciences during the 1st quarter worth about $81,000. Finally, Ascent Group LLC acquired a new stake in shares of Wave Life Sciences during the 1st quarter worth about $83,000. 89.73% of the stock is currently 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.