BidaskClub Downgrades Wave Life Sciences (WVE) to Hold
Wave Life Sciences (NASDAQ:WVE) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.
Several other brokerages also recently commented on WVE. Leerink Swann restated an “outperform” rating and issued a $53.00 target price (up previously from $42.00) on shares of Wave Life Sciences in a research note on Wednesday, November 15th. Zacks Investment Research upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, Mizuho set a $34.00 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a research note on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $41.60.
Shares of Wave Life Sciences (NASDAQ:WVE) opened at $32.55 on Tuesday. The stock has a market cap of $932.35, a price-to-earnings ratio of -9.19 and a beta of 0.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.50 and a quick ratio of 11.50. Wave Life Sciences has a 52 week low of $15.15 and a 52 week high of $39.70.
Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.03. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.77 million. Wave Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. research analysts expect that Wave Life Sciences will post -3.76 EPS for the current year.
In related news, insider Chandra Vargeese sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $35.00, for a total value of $52,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ra Capital Management, Llc acquired 423,398 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $23.34 per share, with a total value of $9,882,109.32. The disclosure for this purchase can be found here. Insiders own 53.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors grew its position in shares of Wave Life Sciences by 58.1% in the 2nd quarter. Nationwide Fund Advisors now owns 6,720 shares of the company’s stock valued at $125,000 after purchasing an additional 2,470 shares during the period. The Manufacturers Life Insurance Company boosted its position in Wave Life Sciences by 71.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after acquiring an additional 3,912 shares during the last quarter. Rhumbline Advisers boosted its position in Wave Life Sciences by 62.3% during the 2nd quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock worth $233,000 after acquiring an additional 4,800 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Wave Life Sciences during the 2nd quarter worth approximately $236,000. Finally, New York State Common Retirement Fund boosted its position in Wave Life Sciences by 64.9% during the 2nd quarter. New York State Common Retirement Fund now owns 12,700 shares of the company’s stock worth $236,000 after acquiring an additional 4,999 shares during the last quarter. Institutional investors and hedge funds own 73.74% of the company’s stock.
About Wave Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in 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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