Wave Life Sciences (NASDAQ:WVE) Upgraded at StockNews.com

StockNews.com upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group assumed coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price on the stock. Truist Financial boosted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, March 5th. Finally, Mizuho upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $9.39 on Friday. Wave Life Sciences has a one year low of $4.25 and a one year high of $16.74. The stock’s 50-day moving average is $11.38 and its 200 day moving average is $11.31. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -8.46 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $25.60 million. On average, sell-side analysts expect that Wave Life Sciences will post -1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the sale, the chief executive officer now owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 bought and sold shares of WVE. GF Fund Management CO. LTD. purchased a new stake in Wave Life Sciences in the fourth quarter worth about $40,000. Quarry LP bought a new position in Wave Life Sciences during the 4th quarter valued at about $62,000. KBC Group NV purchased a new stake in Wave Life Sciences in the fourth quarter worth approximately $67,000. Point72 DIFC Ltd bought a new stake in shares of Wave Life Sciences during the 3rd quarter valued at about $98,000. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after acquiring an additional 2,308 shares during the last quarter. 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.