B. Riley Boosts Wave Life Sciences (NASDAQ:WVE) Price Target to $19.00

Wave Life Sciences (NASDAQ:WVE) had its target price boosted by B. Riley from $11.00 to $19.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on WVE. Mizuho reiterated an outperform rating and set a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. JPMorgan Chase & Co. began coverage on Wave Life Sciences in a report on Friday, September 27th. They issued an overweight rating and a $13.00 target price for the company. Finally, HC Wainwright increased their price target on Wave Life Sciences from $15.00 to $22.00 and gave the company a buy rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $15.00.

Wave Life Sciences Trading Down 1.1 %

Shares of NASDAQ WVE opened at $8.41 on Thursday. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $9.92. The stock has a 50 day moving average of $6.25 and a 200-day moving average of $5.92. The company has a market capitalization of $1.03 billion, a P/E ratio of -16.17 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter last year, the firm earned ($0.20) earnings per share. Analysts predict that Wave Life Sciences will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its stake in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the last quarter. Profund Advisors LLC purchased a new stake in Wave Life Sciences during the 2nd quarter valued at $53,000. Principal Financial Group Inc. purchased a new position in shares of Wave Life Sciences in the 2nd quarter worth $74,000. Mackenzie Financial Corp boosted its stake in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Wave Life Sciences in the 2nd quarter worth $104,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.