Wave Life Sciences (NASDAQ:WVE) Now Covered by Analysts at B. Riley

B. Riley began coverage on shares of Wave Life Sciences (NASDAQ:WVE - Free Report) in a report issued on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $11.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. began coverage on Wave Life Sciences in a research report on Monday, September 9th. They set an overweight rating and a $10.00 target price on the stock. Mizuho reiterated an outperform rating and set a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Finally, HC Wainwright reissued a buy rating and set a $15.00 price objective on shares of Wave Life Sciences in a report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $12.50.

Wave Life Sciences Stock Up 8.6 %

WVE traded up $0.47 during trading hours on Thursday, hitting $5.94. The stock had a trading volume of 494,533 shares, compared to its average volume of 804,614. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $7.67. The company's fifty day simple moving average is $5.84 and its 200 day simple moving average is $5.80. The stock has a market cap of $740.96 million, a PE ratio of -11.42 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to analysts' expectations of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the previous year, the business earned ($0.20) EPS. As a group, equities analysts expect that Wave Life Sciences will post -1.04 EPS for the current year.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 29.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank purchased a new position in shares of Wave Life Sciences in the fourth quarter worth about $770,000. SG Americas Securities LLC purchased a new position in Wave Life Sciences in the 2nd quarter worth approximately $668,000. Vanguard Group Inc. lifted its position in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock valued at $11,316,000 after purchasing an additional 521,665 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $174,000. Finally, Capstone Investment Advisors LLC boosted its stake in shares of Wave Life Sciences by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company's stock valued at $336,000 after purchasing an additional 4,500 shares during the period. 89.73% of the stock is currently owned by 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.