Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.40.

Several equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Wave Life Sciences in a report on Friday, August 4th. StockNews.com raised Wave Life Sciences from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Wave Life Sciences in a research report on Friday, August 4th.

Insiders Place Their Bets

In other news, CFO Kyle Moran sold 37,062 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $4.75, for a total transaction of $176,044.50. Following the sale, the chief financial officer now directly owns 46,120 shares in the company, valued at $219,070. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its position in 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 during the period. Tower Research Capital LLC TRC grew its position in 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 during the period. AQR Capital Management LLC bought a new stake in Wave Life Sciences in the third quarter valued at $64,000. Schonfeld Strategic Advisors LLC bought a new stake in Wave Life Sciences in the first quarter valued at $48,000. Finally, Prudential Financial Inc. bought a new stake in Wave Life Sciences in the second quarter valued at $41,000. 72.91% of the stock is currently owned by institutional investors.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $5.20 on Tuesday. The firm has a market cap of $515.06 million, a price-to-earnings ratio of -5.98 and a beta of -1.08. Wave Life Sciences has a 52-week low of $3.15 and a 52-week high of $7.12. The stock has a 50-day simple moving average of $5.48 and a 200-day simple moving average of $4.62.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.21. The firm had revenue of $49.21 million for the quarter, compared to analyst estimates of $28.81 million. As a group, equities research analysts predict that Wave Life Sciences will post -0.6 earnings per share for the current year.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage genetic medicine company, designs, optimizes, and produces novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. It is developing oligonucleotides target ribonucleic acid (RNA) to correct disease-causing mutations, modulate protein activity, restore the production of functional proteins, or reduce the expression of disease-promoting RNAs or proteins.