Wave Life Sciences' (WVE) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Wave Life Sciences (NASDAQ:WVE - Free Report) in a report published on Thursday morning, Benzinga reports. They currently have a $22.00 target price on the stock.

Several other research analysts also recently weighed in on WVE. Wells Fargo & Company upped their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Raymond James raised shares of Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. B. Riley raised their target price on Wave Life Sciences from $11.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their target price on Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wave Life Sciences has a consensus rating of "Moderate Buy" and an average price target of $19.44.

Wave Life Sciences Price Performance

Shares of WVE traded down $0.61 during trading hours on Thursday, hitting $13.71. The stock had a trading volume of 1,566,106 shares, compared to its average volume of 1,104,005. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $15.92. The firm has a market capitalization of $1.68 billion, a P/E ratio of -26.17 and a beta of -1.10. The firm has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $6.72.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same period last year, the business posted ($0.20) EPS. Equities analysts predict that Wave Life Sciences will post -1.01 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In related news, CEO Paul Bolno sold 90,474 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00. Following the transaction, the chief executive officer now owns 268,585 shares in the company, valued at approximately $4,028,775. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Paul Bolno sold 90,474 shares of Wave Life Sciences stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the transaction, the chief executive officer now owns 268,585 shares in the company, valued at $4,028,775. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Francis sold 208,836 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold 364,822 shares of company stock worth $4,645,768 in the last ninety days. Company insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock valued at $37,000 after acquiring an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company's stock valued at $45,000 after purchasing an additional 2,451 shares during the last quarter. Profund Advisors LLC purchased a new position in Wave Life Sciences in the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences in the 2nd quarter worth $74,000. Finally, Mackenzie Financial Corp raised its position in shares of Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company's stock valued at $79,000 after buying an additional 1,905 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.