Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.14.

A number of analysts recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a research note on Monday, April 1st. HC Wainwright increased their price target on shares of Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $5.00 price target on shares of Wave Life Sciences in a research report on Thursday, March 7th. Finally, StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th.

Wave Life Sciences Stock Performance

Shares of WVE opened at $5.75 on Tuesday. The company’s fifty day moving average is $5.70 and its 200 day moving average is $5.18. Wave Life Sciences has a fifty-two week low of $3.15 and a fifty-two week high of $7.67. The stock has a market capitalization of $703.34 million, a PE ratio of -10.45 and a beta of -0.99.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $29.06 million for the quarter, compared to the consensus estimate of $23.30 million. During the same quarter last year, the firm earned ($0.47) EPS. As a group, research analysts forecast that Wave Life Sciences will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kyle Moran sold 15,630 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the completion of the sale, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in WVE. China Universal Asset Management Co. Ltd. lifted its stake in Wave Life Sciences by 351.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock valued at $58,000 after buying an additional 8,920 shares during the last quarter. SG Americas Securities LLC lifted its stake in Wave Life Sciences by 33.6% in the fourth quarter. SG Americas Securities LLC now owns 34,562 shares of the company’s stock valued at $175,000 after buying an additional 8,694 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Wave Life Sciences by 461.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after buying an additional 9,316 shares during the last quarter. Wellington Management Group LLP lifted its stake in Wave Life Sciences by 4.3% in the third quarter. Wellington Management Group LLP now owns 264,885 shares of the company’s stock valued at $1,523,000 after buying an additional 10,830 shares during the last quarter. Finally, Newtyn Management LLC lifted its stake in Wave Life Sciences by 2.0% in the third quarter. Newtyn Management LLC now owns 510,000 shares of the company’s stock valued at $2,932,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.