Mizuho Reaffirms Outperform Rating for Wave Life Sciences (NASDAQ:WVE)

Mizuho reissued their outperform rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note issued to investors on Tuesday, Benzinga reports. Mizuho currently has a $19.00 target price on the stock.

Several other equities research analysts also recently weighed in on the company. Truist Financial reaffirmed a buy rating and issued a $17.00 target price on shares of Wave Life Sciences in a research report on Monday, April 1st. Royal Bank of Canada reaffirmed a sector perform rating and issued a $5.00 target price on shares of Wave Life Sciences in a research report on Thursday, March 7th. Wells Fargo & Company assumed coverage on Wave Life Sciences in a research note on Wednesday, May 15th. They issued an overweight rating and a $11.00 price target on the stock. HC Wainwright boosted their price target on Wave Life Sciences from $8.00 to $15.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Finally, StockNews.com cut Wave Life Sciences from a buy rating to a hold rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $12.29.

Wave Life Sciences Trading Up 14.1 %

Shares of Wave Life Sciences stock opened at $4.99 on Tuesday. Wave Life Sciences has a twelve month low of $3.45 and a twelve month high of $7.67. The stock has a market capitalization of $611.13 million, a P/E ratio of -9.60 and a beta of -1.03. The business’s fifty day moving average price is $5.72 and its 200 day moving average price is $5.30.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $25.67 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. As a group, sell-side analysts predict that Wave Life Sciences will post -0.85 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the sale, the chief financial officer now owns 33,921 shares in the company, valued at $209,292.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 31.10% of the stock is currently owned by insiders.

Institutional Trading of Wave Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in WVE. Ameritas Investment Partners Inc. raised its position in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares during the period. Oxford Asset Management LLP bought a new position in Wave Life Sciences in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC grew its holdings in Wave Life Sciences by 461.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock worth $57,000 after buying an additional 9,316 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Wave Life Sciences by 351.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after buying an additional 8,920 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Wave Life Sciences in the 4th quarter worth approximately $64,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.