Wave Life Sciences (WVE) Cut to Hold at BidaskClub

Wave Life Sciences (NASDAQ:WVE) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

WVE has been the subject of a number of other reports. Zacks Investment Research raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Leerink Swann reissued an “outperform” rating and set a $53.00 target price (up from $42.00) on shares of Wave Life Sciences in a research report on Wednesday, November 15th. Mizuho set a $34.00 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a research report on Saturday, October 21st. Finally, TheStreet raised shares of Wave Life Sciences from a “d+” rating to a “c-” rating in a research report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.60.

Wave Life Sciences (NASDAQ:WVE) opened at $40.00 on Thursday. Wave Life Sciences has a 52-week low of $15.15 and a 52-week high of $42.05. The firm has a market cap of $1,067.14, a P/E ratio of -11.30 and a beta of 0.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.50 and a current ratio of 11.50.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.03. Wave Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. The firm had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.77 million. sell-side analysts anticipate that Wave Life Sciences will post -3.76 earnings per share for the current fiscal year.

In related news, insider Chandra Vargeese sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ra Capital Management, Llc purchased 423,398 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average price of $23.34 per share, for a total transaction of $9,882,109.32. The disclosure for this purchase can be found here. Corporate insiders own 53.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Redmile Group LLC lifted its stake in shares of Wave Life Sciences by 75.0% during the 2nd quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock valued at $41,374,000 after buying an additional 953,310 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Wave Life Sciences during the 3rd quarter valued at approximately $13,679,000. Vanguard Group Inc. lifted its stake in shares of Wave Life Sciences by 40.3% during the 2nd quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock valued at $4,012,000 after buying an additional 61,910 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Wave Life Sciences by 66.3% during the 2nd quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock valued at $3,085,000 after buying an additional 66,120 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Wave Life Sciences by 26.6% during the 2nd quarter. State Street Corp now owns 151,241 shares of the company’s stock valued at $2,815,000 after buying an additional 31,743 shares in the last quarter. Institutional investors own 73.80% of the company’s stock.

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About Wave Life Sciences

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.

Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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