WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• WAVE Life Sciences Ltd. has received an average analyst rating of "Moderate Buy", with one sell rating, one hold rating, and fourteen buy ratings among sixteen analysts covering the stock.
• The average 1-year target price from brokerages for WAVE Life Sciences is $20.33, signaling potential growth based on current evaluations.
• Following its latest earnings report, WAVE Life Sciences reported a loss of ($0.31) EPS, which missed the consensus estimate of ($0.29) by $0.02.

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

Several research analysts have weighed in on WVE shares. Oppenheimer started coverage on WAVE Life Sciences in a report on Monday, July 28th. They set an "outperform" rating and a $24.00 target price on the stock. Wedbush restated an "outperform" rating and issued a $18.00 price target on shares of WAVE Life Sciences in a report on Monday, June 23rd. Leerink Partners set a $26.00 price target on WAVE Life Sciences in a report on Wednesday, September 3rd. Canaccord Genuity Group started coverage on WAVE Life Sciences in a report on Monday, August 4th. They issued a "buy" rating and a $19.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on WAVE Life Sciences from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th.

WAVE Life Sciences Trading Up 2.5%

WVE stock opened at $7.79 on Tuesday. The business's 50-day moving average price is $8.11 and its two-hundred day moving average price is $7.34. The firm has a market cap of $1.24 billion, a PE ratio of -8.66 and a beta of -1.37. WAVE Life Sciences has a 1-year low of $5.28 and a 1-year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The business had revenue of $8.70 million during the quarter, compared to analysts' expectations of $11.52 million. On average, analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insider Transactions at WAVE Life Sciences

In other news, Director Ken Takanashi sold 4,872 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $8.75, for a total value of $42,630.00. Following the sale, the director directly owned 5,716,303 shares in the company, valued at $50,017,651.25. The trade was a 0.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christian O. Henry sold 9,670 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $8.81, for a total value of $85,192.70. Following the completion of the sale, the director owned 29,645 shares in the company, valued at approximately $261,172.45. This trade represents a 24.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,893 shares of company stock valued at $2,423,068. 23.98% of the stock is currently owned by company insiders.

Institutional Trading of WAVE Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position in shares of WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company's stock valued at $74,000 after acquiring an additional 1,802 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company's stock valued at $76,000 after acquiring an additional 3,609 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of WAVE Life Sciences in the second quarter valued at about $80,000. Knott David M Jr acquired a new stake in shares of WAVE Life Sciences in the first quarter valued at about $81,000. Finally, Ascent Group LLC acquired a new stake in shares of WAVE Life Sciences in the first quarter valued at about $83,000. 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.

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