WAVE Life Sciences Ltd. (NASDAQ:WVE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “WAVE Life Sciences Pte. Ltd. is a preclinical biopharmaceutical company. It designs, develops and commercializes nucleic acid therapeutic candidates for Huntington’s disease, Duchenne muscular dystrophy and inflammatory bowel disease. Huntington’s disease, the Company has programs targeting HTT SNP-1 and HTT SNP-2; DMD, targeting Exon 51 and in IBD, it is targeting SMAD7. The Company has late-stage discovery programs in epidermolysis bullosa simplex, in which it is targeting KRT14 SNP-1 and KRT14 SNP-2 and in DMD, it is focused on an additional DMD target, Activin Receptor type IIb. WAVE Life Sciences Pte. Ltd. is based in Singapore. “

A number of other research analysts also recently commented on WVE. ValuEngine downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price target (down previously from $42.00) on shares of WAVE Life Sciences in a report on Thursday, August 10th. Mizuho set a $34.00 price target on WAVE Life Sciences and gave the company a “buy” rating in a report on Friday, August 18th. Finally, BidaskClub raised WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $40.00.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Wednesday, August 9th. The company reported ($0.92) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.14). WAVE Life Sciences had a negative return on equity of 55.19% and a negative net margin of 3,375.12%. The company had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.73 million.

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In other WAVE Life Sciences news, Director Masaharu Tanaka sold 20,747 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $24.21, for a total transaction of $502,284.87. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 53.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. American International Group Inc. raised its position in shares of WAVE Life Sciences by 7.1% during the 1st quarter. American International Group Inc. now owns 4,554 shares of the company’s stock worth $125,000 after purchasing an additional 302 shares during the period. Nationwide Fund Advisors raised its position in shares of WAVE Life Sciences by 58.1% during the 2nd quarter. Nationwide Fund Advisors now owns 6,720 shares of the company’s stock worth $125,000 after purchasing an additional 2,470 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of WAVE Life Sciences by 71.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after purchasing an additional 3,912 shares during the period. Strs Ohio raised its position in shares of WAVE Life Sciences by 6.3% during the 2nd quarter. Strs Ohio now owns 11,900 shares of the company’s stock worth $221,000 after purchasing an additional 700 shares during the period. Finally, Rhumbline Advisers raised its position in shares of WAVE Life Sciences by 62.3% during the 2nd quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock worth $233,000 after purchasing an additional 4,800 shares during the period. 69.58% of the stock is currently owned by institutional investors.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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Analyst Recommendations for WAVE Life Sciences (NASDAQ:WVE)

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