Wave Life Sciences (WVE) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a sell rating to a hold rating in a report issued on Friday morning.

Other research analysts also recently issued reports about the company. HC Wainwright set a $49.00 price objective on Wave Life Sciences and gave the stock a buy rating in a report on Friday, August 10th. Mizuho set a $65.00 price objective on Wave Life Sciences and gave the stock a buy rating in a report on Thursday, August 9th. Stifel Nicolaus started coverage on Wave Life Sciences in a report on Monday, August 6th. They set a buy rating and a $56.00 price objective on the stock. Finally, Leerink Swann restated an outperform rating on shares of Wave Life Sciences in a report on Sunday, November 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Wave Life Sciences currently has a consensus rating of Buy and a consensus target price of $58.40.

Shares of NASDAQ WVE opened at $42.85 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.08. Wave Life Sciences has a fifty-two week low of $31.65 and a fifty-two week high of $56.00. The company has a market capitalization of $1.26 billion, a PE ratio of -11.13 and a beta of 1.10.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Friday, November 9th. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.26) by ($0.02). The business had revenue of $4.49 million during the quarter, compared to analysts’ expectations of $5.36 million. Wave Life Sciences had a negative return on equity of 112.13% and a negative net margin of 1,114.49%. On average, equities research analysts anticipate that Wave Life Sciences will post -5 earnings per share for the current year.

In other Wave Life Sciences news, Director Gregory L. Verdine sold 15,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $38.86, for a total transaction of $582,900.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Chandra Vargeese sold 3,000 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $55.00, for a total value of $165,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 59,075 shares of company stock worth $3,018,600 over the last 90 days. 44.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of Wave Life Sciences in the 3rd quarter worth $140,000. United Services Automobile Association acquired a new stake in shares of Wave Life Sciences in the 3rd quarter worth $204,000. Putnam Investments LLC acquired a new stake in shares of Wave Life Sciences in the 3rd quarter worth $207,000. Jane Street Group LLC acquired a new stake in shares of Wave Life Sciences in the 3rd quarter worth $210,000. Finally, Voya Investment Management LLC boosted its position in shares of Wave Life Sciences by 37.8% in the 2nd quarter. Voya Investment Management LLC now owns 6,873 shares of the company’s stock worth $263,000 after purchasing an additional 1,884 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

About Wave Life Sciences

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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