WAVE Life Sciences (NASDAQ:WVE) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of WAVE Life Sciences (NASDAQ:WVEFree Report) in a research note released on Monday,Benzinga reports. Wedbush currently has a $18.00 price target on the stock.

Several other equities analysts also recently weighed in on WVE. Cantor Fitzgerald initiated coverage on WAVE Life Sciences in a research report on Tuesday, April 29th. They set an “overweight” rating and a $10.00 price target for the company. Raymond James Financial assumed coverage on WAVE Life Sciences in a research report on Wednesday, June 11th. They issued an “outperform” rating and a $14.00 price objective for the company. Wall Street Zen downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Friday, May 9th. Jefferies Financial Group assumed coverage on 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of WAVE Life Sciences in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Get Our Latest Research Report on WAVE Life Sciences

WAVE Life Sciences Stock Performance

WAVE Life Sciences stock opened at $6.96 on Monday. The stock has a fifty day moving average of $6.64 and a two-hundred day moving average of $9.37. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -8.29 and a beta of -1.04. WAVE Life Sciences has a fifty-two week low of $4.25 and a fifty-two week high of $16.74.

WAVE Life Sciences (NASDAQ:WVEGet Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $9.18 million during the quarter, compared to the consensus estimate of $11.65 million. During the same period last year, the firm earned ($0.24) earnings per share. On average, analysts forecast that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Activity at WAVE Life Sciences

In related news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.95, for a total value of $208,500.00. Following the transaction, the director now owns 282,517 shares in the company, valued at approximately $1,963,493.15. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. lifted its stake in shares of WAVE Life Sciences by 30.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock worth $101,133,000 after purchasing an additional 2,894,396 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in shares of WAVE Life Sciences by 14.6% in the fourth quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company’s stock worth $83,033,000 after acquiring an additional 853,589 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in WAVE Life Sciences by 63.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company’s stock valued at $63,074,000 after buying an additional 1,972,262 shares during the last quarter. 683 Capital Management LLC increased its holdings in WAVE Life Sciences by 3.7% in the first quarter. 683 Capital Management LLC now owns 3,925,000 shares of the company’s stock valued at $31,714,000 after buying an additional 140,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in WAVE Life Sciences by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock valued at $25,908,000 after buying an additional 23,891 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

(Get Free Report)

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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Analyst Recommendations for WAVE Life Sciences (NASDAQ:WVE)

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