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

Key Points

• WAVE Life Sciences Ltd. has received a consensus rating of "Moderate Buy" from analysts, with one hold rating and thirteen buy ratings, and an average target price of $20.43.
• Director Gregory L. Verdine recently sold 30,000 shares at an average price of $6.95, which is a 9.60% decrease in his position.
• WAVE Life Sciences reported a loss of ($0.29) EPS for the last quarter, missing the estimate and earning revenue of $9.18 million compared to the expected $11.65 million.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $20.36.

Several research analysts recently commented on WVE shares. 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 target 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. Citigroup started coverage on shares of WAVE Life Sciences in a report on Wednesday, July 16th. They issued a "buy" rating and a $16.00 price target on the stock. Raymond James Financial started coverage on shares of WAVE Life Sciences in a report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target on the stock. Finally, Wall Street Zen lowered shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th.

WAVE Life Sciences Stock Up 6.5%

Shares of NASDAQ WVE traded up $0.53 during midday trading on Thursday, hitting $8.63. The stock had a trading volume of 1,835,880 shares, compared to its average volume of 1,299,709. WAVE Life Sciences has a 1-year low of $5.04 and a 1-year high of $16.74. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -9.59 and a beta of -1.01. The company has a fifty day moving average price of $7.22 and a 200 day moving average price of $8.31.

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

Insider Buying and Selling

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the completion of the transaction, the director owned 282,517 shares of the company's stock, valued at $1,963,493.15. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 23.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in WAVE Life Sciences by 9.1% in 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. Teacher Retirement System of Texas increased its holdings in shares of WAVE Life Sciences by 8.2% during the second quarter. Teacher Retirement System of Texas now owns 28,955 shares of the company's stock valued at $188,000 after purchasing an additional 2,206 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $1,998,000 after purchasing an additional 2,278 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in WAVE Life Sciences by 31.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after purchasing an additional 2,308 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in WAVE Life Sciences in the fourth quarter worth about $40,000. 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.