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.
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.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/01/wave-life-sciences-wve-cut-to-hold-at-bidaskclub.html.
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.
Receive News & Ratings for Wave Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wave Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.