Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has received an average rating of "Buy" from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $22.60.
Several analysts have commented on the company. StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research note on Tuesday, February 25th. They issued a "buy" rating and a $26.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th.
Read Our Latest Analysis on Wave Life Sciences
Wave Life Sciences Stock Performance
NASDAQ WVE traded down $0.54 during mid-day trading on Friday, reaching $8.08. 2,522,557 shares of the stock were exchanged, compared to its average volume of 1,131,374. The company has a market capitalization of $1.24 billion, a P/E ratio of -7.28 and a beta of -1.04. The business's 50 day moving average is $10.68 and its 200-day moving average is $11.74. Wave Life Sciences has a 1 year low of $4.25 and a 1 year high of $16.74.
Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results 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. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. Equities analysts predict that Wave Life Sciences will post -1.14 earnings per share for the current fiscal year.
Insider Buying and Selling at Wave Life Sciences
In other news, Director Christian O. Henry sold 10,500 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now owns 16,115 shares of the company's stock, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul Bolno sold 169,025 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was 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 approximately $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.
Institutional Trading of Wave Life Sciences
Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock valued at $180,000 after buying an additional 2,073 shares during the period. Summit Investment Advisors Inc. raised its position in Wave Life Sciences by 31.5% in the fourth 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 period. GF Fund Management CO. LTD. acquired a new position in shares of Wave Life Sciences in the 4th quarter valued at $40,000. Kraematon Investment Advisors Inc. lifted its stake in shares of Wave Life Sciences by 24.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company's stock valued at $246,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Wave Life Sciences by 36.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company's stock worth $193,000 after purchasing an additional 4,120 shares during the period. Hedge funds and other institutional investors own 89.73% of the company's stock.
About Wave Life Sciences
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Get Free ReportWave 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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