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

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $20.50.

A number of analysts have recently commented on WVE shares. Raymond James Financial started coverage on shares of WAVE Life Sciences in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target for the company. Cantor Fitzgerald initiated 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 target for the company. Wall Street Zen lowered shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of WAVE Life Sciences in a research report on Wednesday, March 26th. Finally, Wedbush restated an "outperform" rating and set a $18.00 target price on shares of WAVE Life Sciences in a research report on Monday, June 23rd.

WAVE Life Sciences Price Performance

Shares of NASDAQ WVE opened at $6.97 on Friday. WAVE Life Sciences has a 1 year low of $5.04 and a 1 year high of $16.74. The stock has a market cap of $1.08 billion, a P/E ratio of -8.30 and a beta of -1.01. The firm has a 50-day moving average of $6.72 and a 200 day moving average of $8.94.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The business had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. During the same period in the prior year, the company posted ($0.24) EPS. Research analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Activity at WAVE Life Sciences

In related news, Director Gregory L. Verdine sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 282,517 shares in the company, valued at approximately $1,963,493.15. This represents a 9.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 23.98% of the stock is owned by insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. grew its stake in shares of WAVE Life Sciences by 30.1% during the 1st 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 period. Driehaus Capital Management LLC grew its stake in shares of 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 worth $83,033,000 after purchasing an additional 853,589 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of WAVE Life Sciences by 63.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company's stock worth $63,074,000 after purchasing an additional 1,972,262 shares during the period. 683 Capital Management LLC grew its stake in shares of WAVE Life Sciences by 3.7% during the 1st quarter. 683 Capital Management LLC now owns 3,925,000 shares of the company's stock worth $31,714,000 after purchasing an additional 140,000 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of WAVE Life Sciences by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company's stock worth $25,908,000 after purchasing an additional 23,891 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

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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