Wave Life Sciences Ltd. (NASDAQ:WVE – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.50.
A number of equities analysts have recently weighed in on WVE shares. Jefferies Financial Group started coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective for the company. Wedbush started coverage on shares of Wave Life Sciences in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 price objective for the company. Raymond James started coverage on shares of Wave Life Sciences in a research report on Wednesday. They issued an “outperform” rating and a $14.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, Cantor Fitzgerald started coverage on shares of Wave Life Sciences in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 price objective for the company.
Check Out Our Latest Report on Wave Life Sciences
Wave Life Sciences Trading Down 3.5%
Wave Life Sciences (NASDAQ:WVE – Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The business had revenue of $9.18 million for the quarter, compared to analyst estimates of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same quarter in the previous year, the firm posted ($0.24) EPS. As a group, analysts forecast that Wave Life Sciences will post -1.14 EPS for the current fiscal year.
Insider Buying and Selling
In other Wave Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the completion of the sale, the director now directly owns 282,517 shares in the company, valued at $1,963,493.15. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares of the company’s stock, valued at $157,443.55. The trade was a 39.45% decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Wave Life Sciences
Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in Wave Life Sciences in the 4th quarter valued at $40,000. Quarry LP purchased a new stake in shares of Wave Life Sciences in the fourth quarter worth about $62,000. KBC Group NV purchased a new stake in shares of Wave Life Sciences in the fourth quarter worth about $67,000. Summit Investment Advisors Inc. grew its stake in shares of 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 buying an additional 2,308 shares in the last quarter. Finally, Westwood Wealth Management purchased a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $124,000. Institutional investors and hedge funds 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.
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