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

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

A number of brokerages have weighed in on WVE. Wedbush reaffirmed an "outperform" rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a report on Monday, June 23rd. Oppenheimer initiated coverage on WAVE Life Sciences in a research note on Monday, July 28th. They issued an "outperform" rating and a $24.00 price target on the stock. Raymond James Financial began coverage on WAVE Life Sciences in a report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 price objective on the stock. Wells Fargo & Company cut their price objective on WAVE Life Sciences from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Cantor Fitzgerald assumed coverage on shares of WAVE Life Sciences in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 target price on the stock.

WAVE Life Sciences Stock Up 6.5%

Shares of NASDAQ WVE traded up $0.53 during mid-day trading on Thursday, hitting $8.63. 1,835,880 shares of the company were exchanged, compared to its average volume of 1,669,322. The stock has a 50 day simple moving average of $7.22 and a 200-day simple moving average of $8.29. WAVE Life Sciences has a 1-year low of $5.04 and a 1-year high of $16.74. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -9.59 and a beta of -0.95.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued 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 firm had revenue of $8.70 million for the quarter, compared to analyst estimates of $11.52 million. Analysts anticipate that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In related news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences 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 completion of the transaction, the director directly owned 282,517 shares in the company, valued at $1,963,493.15. The trade was a 9.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. boosted its holdings in shares of WAVE Life Sciences by 30.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company's stock worth $101,133,000 after purchasing an additional 2,894,396 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of WAVE Life Sciences by 63.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock worth $63,074,000 after buying an additional 1,972,262 shares during the period. Polar Capital Holdings Plc purchased a new stake in shares of WAVE Life Sciences during the fourth quarter valued at approximately $12,370,000. MPM Bioimpact LLC lifted its holdings in WAVE Life Sciences by 138.5% in the 4th quarter. MPM Bioimpact LLC now owns 1,489,237 shares of the company's stock worth $18,422,000 after buying an additional 864,766 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in WAVE Life Sciences by 14.6% during the 4th quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company's stock valued at $83,033,000 after purchasing an additional 853,589 shares in the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

About WAVE Life Sciences

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.