Wells Fargo & Company Lowers WAVE Life Sciences (NASDAQ:WVE) Price Target to $21.00

Key Points

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WAVE Life Sciences (NASDAQ:WVE - Free Report) had its price objective decreased by Wells Fargo & Company from $24.00 to $21.00 in a report issued on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Oppenheimer started coverage on shares of WAVE Life Sciences in a research note on Monday, July 28th. They issued an "outperform" rating and a $24.00 price objective for the company. 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 objective for the company. Citigroup started coverage on shares of WAVE Life Sciences in a research note on Wednesday, July 16th. They issued a "buy" rating and a $16.00 price objective for the company. Wedbush restated an "outperform" rating and issued a $18.00 price objective on shares of WAVE Life Sciences in a research note on Monday, June 23rd. Finally, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.36.

WAVE Life Sciences Trading Up 6.5%

NASDAQ WVE traded up $0.53 during trading on Thursday, reaching $8.63. The company's stock had a trading volume of 1,835,880 shares, compared to its average volume of 1,669,322. The stock has a market capitalization of $1.37 billion, a PE ratio of -9.59 and a beta of -0.95. The business has a 50-day moving average price of $7.22 and a 200-day moving average price of $8.31. WAVE Life Sciences has a 1-year low of $5.04 and a 1-year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The business had revenue of $8.70 million for the quarter, compared to analysts' expectations of $11.52 million. As a group, analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insider Buying and Selling

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas boosted its stake in WAVE Life Sciences by 8.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 28,955 shares of the company's stock worth $188,000 after acquiring an additional 2,206 shares during the last quarter. Privium Fund Management B.V. raised its holdings in WAVE Life Sciences by 19.4% during the 2nd quarter. Privium Fund Management B.V. now owns 135,550 shares of the company's stock worth $884,000 after buying an additional 22,000 shares during the period. TD Asset Management Inc raised its holdings in shares of WAVE Life Sciences by 16.3% in the second quarter. TD Asset Management Inc now owns 179,608 shares of the company's stock valued at $1,167,000 after purchasing an additional 25,200 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in shares of WAVE Life Sciences by 13.9% in the second quarter. Platinum Investment Management Ltd. now owns 355,353 shares of the company's stock valued at $2,310,000 after purchasing an additional 43,361 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of WAVE Life Sciences by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company's stock valued at $4,506,000 after purchasing an additional 20,624 shares during the last quarter. Institutional investors own 89.73% of the company's stock.

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.