WAVE Life Sciences' (WVE) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• WAVE Life Sciences received a "Sell (D-)" rating from Weiss Ratings, which was reaffirmed in a recent report.
• The stock price increased by 2.5% to $7.37, with a market capitalization of $1.17 billion and significant institutional ownership of 89.73%.
• Recent quarterly earnings showed a loss of ($0.31) per share, missing estimates, with revenue of $8.70 million compared to expectations of $11.52 million.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report)'s stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

WVE has been the subject of a number of other reports. Citigroup initiated coverage on shares of WAVE Life Sciences in a report on Wednesday, July 16th. They issued a "buy" rating and a $16.00 target price for the company. Wells Fargo & Company reduced their target price on shares of WAVE Life Sciences from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, September 4th. Wedbush reaffirmed an "outperform" rating and issued a $18.00 target price on shares of WAVE Life Sciences in a report on Monday, June 23rd. Leerink Partners set a $26.00 target price on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Finally, Oppenheimer assumed coverage on shares of WAVE Life Sciences in a report on Monday, July 28th. They issued an "outperform" rating and a $24.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.33.

WAVE Life Sciences Stock Up 2.5%

WVE traded up $0.18 on Wednesday, reaching $7.37. The company had a trading volume of 2,151,920 shares, compared to its average volume of 1,466,931. WAVE Life Sciences has a 1 year low of $5.28 and a 1 year high of $16.74. The stock has a market capitalization of $1.17 billion, a PE ratio of -8.22 and a beta of -1.37. The stock has a 50-day moving average price of $8.16 and a 200-day moving average price of $7.40.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The company 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 fiscal year.

Insider Activity at WAVE Life Sciences

In other WAVE Life Sciences news, Director Ken Takanashi sold 4,872 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total transaction of $42,630.00. Following the transaction, the director directly owned 5,716,303 shares in the company, valued at approximately $50,017,651.25. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory L. Verdine sold 10,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the director owned 285,217 shares in the company, valued at $2,852,170. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,893 shares of company stock valued at $2,423,068. 23.98% of the stock is owned by corporate insiders.

Institutional Trading of WAVE Life Sciences

Several institutional investors and hedge funds have recently modified their holdings of WVE. Knott David M Jr purchased a new position in shares of WAVE Life Sciences during the first quarter valued at approximately $81,000. Ascent Group LLC purchased a new position in shares of WAVE Life Sciences during the first quarter valued at approximately $83,000. Ameritas Investment Partners Inc. lifted its stake in shares of WAVE Life Sciences by 18.7% during the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company's stock valued at $74,000 after buying an additional 1,802 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of WAVE Life Sciences by 44.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company's stock valued at $76,000 after buying an additional 3,609 shares during the period. Finally, Prudential Financial Inc. purchased a new position in shares of WAVE Life Sciences during the second quarter valued at approximately $80,000. 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.

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