Wave Life Sciences (NASDAQ:WVE) Earns Buy Rating from HC Wainwright

Wave Life Sciences (NASDAQ:WVE - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $22.00 target price on the stock. HC Wainwright's price target would indicate a potential upside of 155.22% from the company's previous close.

A number of other research analysts also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price for the company. StockNews.com upgraded Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.60.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE traded down $0.39 during mid-day trading on Wednesday, hitting $8.62. The stock had a trading volume of 1,207,276 shares, compared to its average volume of 1,125,809. The firm has a market cap of $1.32 billion, a PE ratio of -7.77 and a beta of -1.04. The company has a 50 day moving average of $10.73 and a two-hundred day moving average of $11.68. Wave Life Sciences has a twelve month low of $4.25 and a twelve month high of $16.74.

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Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to analysts' expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. Equities research analysts predict that Wave Life Sciences will post -1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the sale, the chief executive officer now owns 338,351 shares of the company's stock, valued at $3,238,019.07. The trade was a 33.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares of the company's stock, valued at $157,443.55. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at $40,000. Quarry LP purchased a new stake in shares of Wave Life Sciences in the 4th quarter valued at approximately $62,000. KBC Group NV acquired a new position in shares of Wave Life Sciences in the 4th quarter worth approximately $67,000. Point72 DIFC Ltd purchased a new position in shares of Wave Life Sciences during the 3rd quarter worth approximately $98,000. Finally, Summit Investment Advisors Inc. increased its holdings in Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock valued at $119,000 after purchasing an additional 2,308 shares during the last quarter. Institutional investors and hedge funds 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.