Wave Life Sciences (NASDAQ:WVE) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $15.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Wave Life Sciences from a buy rating to a hold rating in a research report on Friday, May 10th. Royal Bank of Canada reissued a sector perform rating and set a $5.00 price target on shares of Wave Life Sciences in a research report on Thursday, March 7th. Truist Financial reissued a buy rating and set a $17.00 price target on shares of Wave Life Sciences in a research report on Monday, April 1st. Wells Fargo & Company assumed coverage on Wave Life Sciences in a research report on Wednesday, May 15th. They set an overweight rating and a $11.00 price target for the company. Finally, Mizuho reaffirmed an outperform rating and issued a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $12.29.

Wave Life Sciences Price Performance

WVE opened at $4.99 on Wednesday. The business has a 50 day simple moving average of $5.72 and a 200-day simple moving average of $5.31. The stock has a market capitalization of $611.13 million, a P/E ratio of -9.60 and a beta of -1.03. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned ($0.27) earnings per share. Research analysts anticipate 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 firm’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 completion of the sale, the chief financial officer now owns 33,921 shares in the company, valued at approximately $209,292.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings 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 worth $45,000 after purchasing an additional 2,451 shares during the last quarter. Oxford Asset Management LLP bought a new stake in shares of Wave Life Sciences in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 9,316 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 8,920 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Wave Life Sciences in the 4th quarter worth approximately $64,000. Institutional investors own 89.73% of the company’s stock.

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.