Brokerages Set WAVE Life Sciences Ltd. (NASDAQ:WVE) PT at $19.50

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $19.50.

WVE has been the subject of a number of analyst reports. Leerink Partners set a $26.00 target price on WAVE Life Sciences in a research note on Wednesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Wednesday, October 8th. B. Riley restated a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, September 4th. Finally, Wells Fargo & Company lowered their price target on shares of WAVE Life Sciences from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th.

WAVE Life Sciences Stock Down 1.7%

Shares of NASDAQ:WVE opened at $7.49 on Wednesday. WAVE Life Sciences has a fifty-two week low of $5.28 and a fifty-two week high of $15.72. The firm’s 50-day simple moving average is $7.50 and its 200-day simple moving average is $7.61. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -9.99 and a beta of -1.72.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%. On average, research analysts forecast that WAVE Life Sciences will post -1.14 EPS for the current year.

Insiders Place Their Bets

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 16,115 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $6.79, for a total value of $109,420.85. Following the completion of the transaction, the director directly owned 12,700 shares of the company’s stock, valued at approximately $86,233. This trade represents a 55.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 23.98% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in WAVE Life Sciences by 16.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,974 shares of the company’s stock valued at $339,000 after purchasing an additional 6,015 shares in the last quarter. XTX Topco Ltd acquired a new stake in WAVE Life Sciences in the first quarter valued at $225,000. Vanguard Group Inc. increased its position in shares of WAVE Life Sciences by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock valued at $25,908,000 after buying an additional 23,891 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of WAVE Life Sciences by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 963,125 shares of the company’s stock worth $7,782,000 after buying an additional 48,656 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of WAVE Life Sciences in the 1st quarter worth about $103,000. 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.