Wave Life Sciences (NASDAQ:WVE) Now Covered by Raymond James

Raymond James began coverage on shares of Wave Life Sciences (NASDAQ:WVE - Free Report) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $14.00 price objective on the stock.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group assumed coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price target for the company. Wall Street Zen downgraded Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Wedbush assumed coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 26th. Finally, Cantor Fitzgerald assumed coverage on Wave Life Sciences in a report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price objective for the company. 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.50.

Wave Life Sciences Stock Down 3.5%

Shares of NASDAQ:WVE traded down $0.25 on Wednesday, hitting $6.95. 672,535 shares of the company traded hands, compared to its average volume of 1,323,657. Wave Life Sciences has a 52 week low of $4.25 and a 52 week high of $16.74. The stock has a 50 day simple moving average of $6.52 and a 200-day simple moving average of $9.75. The company has a market cap of $1.07 billion, a PE ratio of -6.26 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results 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). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $9.18 million for the quarter, compared to the consensus estimate of $11.65 million. During the same quarter in the previous year, the business earned ($0.24) earnings per share. As a group, sell-side analysts anticipate that Wave Life Sciences will post -1.14 earnings per share for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of Wave Life Sciences stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the transaction, the director now owns 282,517 shares of the company's stock, valued at $1,963,493.15. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction that occurred on 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 directly owns 16,115 shares in the company, valued at $157,443.55. This represents a 39.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company's stock.

Hedge Funds Weigh In On Wave Life Sciences

Several large investors have recently added to or reduced their stakes in WVE. GF Fund Management CO. LTD. purchased a new position in Wave Life Sciences during the fourth quarter valued at approximately $40,000. Quarry LP purchased a new position in Wave Life Sciences during the fourth quarter valued at approximately $62,000. Knott David M Jr purchased a new position in Wave Life Sciences during the first quarter valued at approximately $81,000. Ascent Group LLC purchased a new position in Wave Life Sciences during the first quarter valued at approximately $83,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Wave Life Sciences during the first quarter valued at approximately $103,000. Hedge funds and other 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.