Wave Life Sciences (NASDAQ:WVE) Upgraded to Hold 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 report published on Saturday morning.

WVE has been the subject of a number of other research reports. Jefferies Financial Group assumed coverage on Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday. 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. Finally, Truist Financial upped their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.60.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $9.40 on Friday. The business has a 50 day simple moving average of $11.44 and a two-hundred day simple moving average of $11.24. Wave Life Sciences has a 12 month low of $4.25 and a 12 month high of $16.74. The stock has a market capitalization of $1.44 billion, a P/E ratio of -8.47 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. As a group, research analysts anticipate that Wave Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at approximately $3,238,019.07. This represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 29.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in shares of Wave Life Sciences by 53.9% during the third quarter. US Bancorp DE now owns 18,043 shares of the company’s stock worth $148,000 after buying an additional 6,316 shares during the period. Privium Fund Management B.V. purchased a new position in shares of Wave Life Sciences during the third quarter worth $400,000. GSA Capital Partners LLP boosted its position in shares of Wave Life Sciences by 14.9% during the third quarter. GSA Capital Partners LLP now owns 63,513 shares of the company’s stock worth $521,000 after buying an additional 8,255 shares during the period. Intech Investment Management LLC purchased a new position in shares of Wave Life Sciences during the third quarter worth $194,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Wave Life Sciences by 209.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock worth $6,926,000 after buying an additional 571,345 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.