Raymond James began coverage on shares of Wave Life Sciences (NASDAQ:WVE - Free Report) in a report published on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $14.00 price target on the stock.
A number of other research analysts have also commented on the company. Cantor Fitzgerald began coverage on Wave Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target for the company. Wall Street Zen downgraded shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Wedbush assumed coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They set an "outperform" rating and a $18.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group started coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.
View Our Latest Stock Report on Wave Life Sciences
Wave Life Sciences Price Performance
NASDAQ:WVE traded down $0.37 during midday trading on Wednesday, reaching $6.83. The stock had a trading volume of 43,456 shares, compared to its average volume of 1,314,057. The stock has a market capitalization of $1.05 billion, a P/E ratio of -6.22 and a beta of -1.04. Wave Life Sciences has a 1-year low of $4.25 and a 1-year high of $16.74. The firm's fifty day simple moving average is $6.49 and its 200-day simple moving average is $9.84.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The firm had revenue of $9.18 million for the quarter, compared to the consensus estimate of $11.65 million. During the same quarter last year, the company earned ($0.24) earnings per share. On average, equities research analysts anticipate that Wave Life Sciences will post -1.14 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now owns 16,115 shares in the company, valued at $157,443.55. This represents a 39.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 29.10% of the company's stock.
Hedge Funds Weigh In On Wave Life Sciences
A number of large investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in Wave Life Sciences in the 4th quarter worth approximately $40,000. Quarry LP bought a new stake in shares of Wave Life Sciences during the fourth quarter worth $62,000. Knott David M Jr bought a new stake in shares of Wave Life Sciences during the first quarter worth $81,000. Ascent Group LLC acquired a new position in shares of Wave Life Sciences during the first quarter valued at $83,000. Finally, Chicago Partners Investment Group LLC bought a new position in Wave Life Sciences in the first quarter valued at about $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.
Featured Articles
Before you consider Wave Life Sciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wave Life Sciences wasn't on the list.
While Wave Life Sciences currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
