Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $21.17 Consensus Target Price from Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.50.

Several research analysts have recently commented on WVE shares. Raymond James started coverage on shares of Wave Life Sciences in a research note on Wednesday. They issued an "outperform" rating and a $14.00 price objective for the company. Jefferies Financial Group started coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price objective for the company. Wedbush started coverage on shares of Wave Life Sciences in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Finally, Cantor Fitzgerald started 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 objective for the company.

Wave Life Sciences Stock Down 3.5%

WVE stock traded down $0.25 during mid-day trading on Wednesday, hitting $6.95. 672,535 shares of the company were exchanged, compared to its average volume of 1,323,657. The firm has a market capitalization of $1.07 billion, a P/E ratio of -6.26 and a beta of -1.04. The business has a fifty day simple moving average of $6.52 and a 200-day simple moving average of $9.75. Wave Life Sciences has a 12-month low of $4.25 and a 12-month high of $16.74.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced 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). 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 period last year, the business earned ($0.24) EPS. Research analysts predict that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of the firm'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 owns 16,115 shares of the company's stock, valued at approximately $157,443.55. This trade represents a 39.45% 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 Gregory L. Verdine sold 30,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 282,517 shares in the company, valued at approximately $1,963,493.15. The trade was a 9.60% decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in Wave Life Sciences in the 4th quarter valued at $67,000. Rhumbline Advisers raised its holdings in shares of Wave Life Sciences by 16.1% in the fourth quarter. Rhumbline Advisers now owns 124,840 shares of the company's stock valued at $1,544,000 after buying an additional 17,316 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth about $3,076,000. New York State Common Retirement Fund grew its holdings in shares of Wave Life Sciences by 6.8% during the fourth quarter. New York State Common Retirement Fund now owns 109,084 shares of the company's stock worth $1,349,000 after buying an additional 6,900 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Wave Life Sciences during the fourth quarter worth about $628,000. Institutional investors and hedge funds 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.