WAVE Life Sciences (NASDAQ:WVE - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Wedbush in a report issued on Monday,Benzinga reports. They currently have a $18.00 price objective on the stock. Wedbush's price target indicates a potential upside of 156.05% from the company's current price.
A number of other equities analysts also recently weighed in on WVE. Jefferies Financial Group initiated coverage on shares of WAVE Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $22.00 price objective on shares of WAVE Life Sciences in a research note on Wednesday, March 26th. Cantor Fitzgerald started coverage on shares of WAVE Life Sciences in a report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price on the stock. Raymond James Financial initiated coverage on WAVE Life Sciences in a report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 price target for the company. Finally, Wall Street Zen downgraded 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 issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.50.
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WAVE Life Sciences Price Performance
Shares of NASDAQ WVE traded up $0.18 during trading hours on Monday, hitting $7.03. 774,435 shares of the company's stock were exchanged, compared to its average volume of 1,283,197. WAVE Life Sciences has a 1-year low of $4.25 and a 1-year high of $16.74. The company's 50-day moving average price is $6.69 and its 200-day moving average price is $9.28. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -8.37 and a beta of -1.04.
WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $11.65 million. During the same period in the prior year, the company earned ($0.24) earnings per share. On average, research analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current year.
Insider Transactions at WAVE Life Sciences
In related news, Director Gregory L. Verdine sold 30,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.95, for a total value of $208,500.00. Following the transaction, the director now owns 282,517 shares in the company, valued at approximately $1,963,493.15. This trade represents 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 accessible through this link. Insiders own 29.10% of the company's stock.
Hedge Funds Weigh In On WAVE Life Sciences
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in WAVE Life Sciences by 6.3% in the first quarter. Rhumbline Advisers now owns 132,700 shares of the company's stock valued at $1,072,000 after acquiring an additional 7,860 shares during the last quarter. Strs Ohio bought a new position in shares of WAVE Life Sciences in the 1st quarter valued at $406,000. Ascent Group LLC acquired a new position in shares of WAVE Life Sciences during the 1st quarter worth $83,000. Goldman Sachs Group Inc. lifted its position in shares of WAVE Life Sciences by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company's stock worth $4,506,000 after buying an additional 20,624 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in WAVE Life Sciences by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company's stock valued at $463,000 after buying an additional 4,957 shares in the last quarter. 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.
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