WAVE Life Sciences (NASDAQ:WVE) Receives "Outperform" Rating from Wedbush

WAVE Life Sciences (NASDAQ:WVE - Get Free Report)'s stock had its "outperform" rating reissued by Wedbush in a research report issued on Monday,Benzinga reports. They presently have a $18.00 price target on the stock. Wedbush's target price would suggest a potential upside of 171.70% from the company's current price.

Several other research firms have also recently issued reports on WVE. HC Wainwright reiterated a "buy" rating and set a $22.00 target price on shares of WAVE Life Sciences in a research report on Wednesday, March 26th. Raymond James Financial assumed coverage on WAVE Life Sciences in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target on the stock. Cantor Fitzgerald began coverage on WAVE Life Sciences in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price objective for the company. Jefferies Financial Group started coverage on WAVE Life Sciences in a report on Tuesday, February 25th. They issued a "buy" rating and a $26.00 target price for the company. Finally, Wall Street Zen cut shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $20.50.

WAVE Life Sciences Trading Up 0.8%

WVE traded up $0.06 during trading hours on Monday, hitting $6.63. 43,049 shares of the company's stock were exchanged, compared to its average volume of 1,320,859. WAVE Life Sciences has a 12-month low of $4.25 and a 12-month high of $16.74. The firm has a 50 day moving average of $6.62 and a 200 day moving average of $9.43. The firm has a market cap of $1.02 billion, a P/E ratio of -7.90 and a beta of -1.04.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its 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). The firm had revenue of $9.18 million during the quarter, compared to analyst estimates of $11.65 million. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, research analysts expect that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In related news, Director Gregory L. Verdine sold 30,000 shares of the company'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 completion of the transaction, the director now directly owns 282,517 shares in the company, valued at approximately $1,963,493.15. This represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new position in shares of WAVE Life Sciences in the 4th quarter worth about $256,000. Arizona State Retirement System grew its holdings in shares of WAVE Life Sciences by 34.2% during the 4th quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock worth $381,000 after purchasing an additional 7,846 shares during the period. Corebridge Financial Inc. increased its position in WAVE Life Sciences by 10.7% during the 4th quarter. Corebridge Financial Inc. now owns 45,824 shares of the company's stock worth $567,000 after purchasing an additional 4,423 shares in the last quarter. Vanguard Group Inc. raised its holdings in WAVE Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock valued at $39,368,000 after buying an additional 294,956 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of WAVE Life Sciences by 23.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,392 shares of the company's stock valued at $648,000 after acquiring an additional 9,907 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.

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