Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Average Rating of “Moderate Buy” from Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.14.

Several equities research analysts recently commented on WVE shares. HC Wainwright lifted their price target on shares of Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. StockNews.com lowered shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Truist Financial reiterated a “buy” rating and set a $17.00 price target on shares of Wave Life Sciences in a research note on Monday, April 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.00 price target on shares of Wave Life Sciences in a research note on Thursday, March 7th. Finally, Leerink Partnrs upgraded shares of Wave Life Sciences from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 19th.

Wave Life Sciences Trading Down 0.7 %

Wave Life Sciences stock opened at $6.00 on Friday. The stock has a market cap of $733.70 million, a P/E ratio of -10.91 and a beta of -1.12. The company has a fifty day simple moving average of $5.29 and a 200-day simple moving average of $5.24. Wave Life Sciences has a 12-month low of $3.15 and a 12-month high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $29.06 million for the quarter, compared to analyst estimates of $23.30 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. As a group, sell-side analysts forecast that Wave Life Sciences will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total value of $96,437.10. Following the transaction, the chief financial officer now directly owns 33,921 shares in the company, valued at $209,292.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 31.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in WVE. Royal Bank of Canada boosted its holdings in shares of Wave Life Sciences by 257.9% in the second quarter. Royal Bank of Canada now owns 8,787 shares of the company’s stock valued at $32,000 after acquiring an additional 6,332 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Wave Life Sciences by 256.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock valued at $34,000 after acquiring an additional 6,630 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Wave Life Sciences in the second quarter valued at about $41,000. Mirabella Financial Services LLP purchased a new stake in shares of Wave Life Sciences in the first quarter valued at about $44,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Wave Life Sciences in the first quarter valued at about $48,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

About Wave Life Sciences

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.