WAVE Life Sciences (NASDAQ:WVE) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of WAVE Life Sciences (NASDAQ:WVE - Free Report) in a report issued on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $16.00 target price on the stock.

Several other equities analysts also recently issued reports on the company. Wedbush reiterated an "outperform" rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research report on Monday, June 23rd. Cantor Fitzgerald initiated coverage on shares of WAVE Life Sciences in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target on the stock. Raymond James Financial began coverage on shares of WAVE Life Sciences in a report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 price objective on the stock. 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. Finally, HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of WAVE Life Sciences in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.15.

WAVE Life Sciences Stock Performance

Shares of NASDAQ:WVE traded up $0.21 on Wednesday, hitting $8.03. The stock had a trading volume of 725,074 shares, compared to its average volume of 1,318,776. The firm's 50 day moving average price is $6.76 and its 200-day moving average price is $8.66. WAVE Life Sciences has a twelve month low of $5.04 and a twelve month high of $16.74. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.56 and a beta of -1.01.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share 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 analysts' expectations of $11.65 million. During the same quarter last year, the company earned ($0.24) earnings per share. As a group, sell-side analysts predict that WAVE Life Sciences will post -1.14 EPS for the current year.

Insider Activity

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the company's 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 owned 282,517 shares of the company's stock, valued at $1,963,493.15. This represents a 9.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 23.98% of the company's stock.

Institutional Trading of WAVE Life Sciences

A number of institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in shares of WAVE Life Sciences during the 4th quarter worth approximately $40,000. Quarry LP bought a new position in shares of WAVE Life Sciences in the fourth quarter valued at $62,000. Summit Investment Advisors Inc. raised its position in WAVE Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after acquiring an additional 2,308 shares in the last quarter. Westwood Wealth Management bought a new position in shares of WAVE Life Sciences in the 4th quarter valued at about $124,000. Finally, Knott David M Jr acquired a new position in shares of WAVE Life Sciences during the 1st quarter worth about $81,000. Institutional investors own 89.73% of the company's stock.

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.