Shares of Wave Life Sciences Ltd. (NASDAQ:WVE – Get Free Report) 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
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 – Get Free Report) 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.
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