Wave Life Sciences (NASDAQ:WVE) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report released on Wednesday, MarketBeat.com reports. The firm issued an overweight rating and a $11.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Wave Life Sciences from a buy rating to a hold rating in a research note on Friday, May 10th. Royal Bank of Canada reiterated a sector perform rating and set a $5.00 target price on shares of Wave Life Sciences in a research note on Thursday, March 7th. HC Wainwright upped their price objective on Wave Life Sciences from $8.00 to $15.00 and gave the company a buy rating in a research note on Thursday, March 7th. Finally, Truist Financial reiterated a buy rating and issued a $17.00 target price on shares of Wave Life Sciences in a research note on Monday, April 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Wave Life Sciences has an average rating of Moderate Buy and an average price target of $10.25.

Wave Life Sciences Stock Performance

WVE opened at $6.26 on Wednesday. Wave Life Sciences has a one year low of $3.15 and a one year high of $7.67. The stock has a market capitalization of $766.60 million, a P/E ratio of -12.04 and a beta of -0.99. The business’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $5.21.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $12.54 million during the quarter, compared to the consensus estimate of $25.67 million. During the same quarter last year, the business posted ($0.27) earnings per share. On average, equities research analysts forecast that Wave Life Sciences will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total transaction of $96,437.10. Following the transaction, the chief financial officer now directly owns 33,921 shares in the company, valued at $209,292.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wave Life Sciences

Several large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in shares of Wave Life Sciences by 50.2% during 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. James J. Burns & Company LLC raised its holdings in shares of Wave Life Sciences by 10.2% in the third quarter. James J. Burns & Company LLC now owns 33,049 shares of the company’s stock worth $190,000 after acquiring an additional 3,049 shares during the last quarter. Swiss National Bank lifted its position in shares of Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after acquiring an additional 4,100 shares in the last quarter. Capstone Investment Advisors LLC boosted its stake in shares of Wave Life Sciences by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after acquiring an additional 4,500 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Wave Life Sciences by 35.0% during the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after purchasing an additional 5,648 shares in the last quarter. Institutional investors and hedge funds 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.