Wave Life Sciences (NASDAQ:WVE) Stock Rating Upgraded by BidaskClub

Wave Life Sciences (NASDAQ:WVE) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday, BidAskClub reports.

A number of other equities analysts also recently commented on WVE. SunTrust Banks lowered their target price on shares of Wave Life Sciences to $39.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Stifel Nicolaus downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Mizuho restated a “buy” rating and issued a $65.00 price objective on shares of Wave Life Sciences in a research note on Monday, July 22nd. Finally, Cowen restated a “hold” rating on shares of Wave Life Sciences in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.50.

Shares of NASDAQ:WVE traded down $0.44 during trading on Thursday, hitting $21.35. The company’s stock had a trading volume of 243,378 shares, compared to its average volume of 264,813. The firm’s 50 day simple moving average is $23.94. The company has a quick ratio of 2.39, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. Wave Life Sciences has a fifty-two week low of $18.16 and a fifty-two week high of $56.00.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Monday, July 29th. The company reported ($1.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.11). The business had revenue of $7.63 million during the quarter, compared to analyst estimates of $15.76 million. Wave Life Sciences had a negative return on equity of 120.41% and a negative net margin of 861.41%. On average, analysts expect that Wave Life Sciences will post -5.38 EPS for the current year.

In other Wave Life Sciences news, insider Michael A. Panzara sold 3,058 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $26.94, for a total value of $82,382.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 39.70% of the company’s stock.

Several large investors have recently made changes to their positions in WVE. Aperio Group LLC purchased a new stake in shares of Wave Life Sciences in the second quarter valued at about $51,000. Bank of Montreal Can raised its holdings in shares of Wave Life Sciences by 590.5% in the second quarter. Bank of Montreal Can now owns 2,106 shares of the company’s stock valued at $55,000 after buying an additional 1,801 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Wave Life Sciences by 18.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock valued at $94,000 after buying an additional 569 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Wave Life Sciences by 45.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $122,000 after buying an additional 900 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Wave Life Sciences by 17.9% in the fourth quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after buying an additional 469 shares during the last quarter. 85.77% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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