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WAVE Life Sciences (NASDAQ:WVE) Now Covered by Citigroup

WAVE Life Sciences logo with Medical background

Citigroup started coverage on shares of WAVE Life Sciences (NASDAQ:WVE - Free Report) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

Several other analysts have also recently issued reports on WVE. Raymond James Financial began coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 target price on the stock. Wall Street Zen downgraded shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Cantor Fitzgerald initiated 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 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, Wedbush reissued an "outperform" rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.15.

Check Out Our Latest Stock Report on WAVE Life Sciences

WAVE Life Sciences Trading Up 4.1%

WAVE Life Sciences stock traded up $0.33 during mid-day trading on Wednesday, hitting $8.34. The stock had a trading volume of 2,461,353 shares, compared to its average volume of 1,333,813. The firm's 50 day moving average is $6.83 and its 200 day moving average is $8.57. WAVE Life Sciences has a one year low of $5.04 and a one year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate 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 previous year, the business earned ($0.24) earnings per share. On average, sell-side analysts anticipate that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the firm's 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 completion of the sale, the director directly owned 282,517 shares in the company, valued at $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WAVE Life Sciences

Several institutional investors have recently bought and sold shares of WVE. GF Fund Management CO. LTD. acquired a new stake in shares of WAVE Life Sciences during the fourth quarter worth $40,000. Quarry LP purchased a new position in WAVE Life Sciences in the fourth quarter valued at $62,000. Knott David M Jr purchased a new position in WAVE Life Sciences in the first quarter valued at $81,000. Ascent Group LLC purchased a new position in WAVE Life Sciences in the first quarter valued at $83,000. Finally, Chicago Partners Investment Group LLC purchased a new position in WAVE Life Sciences in the first quarter valued at $103,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

About WAVE Life Sciences

(Get Free Report)

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.

Further Reading

Analyst Recommendations for WAVE Life Sciences (NASDAQ:WVE)

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