Stifel Nicolaus began coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research report issued to clients and investors on Monday, August 6th, MarketBeat reports. The brokerage set a “buy” rating and a $56.00 price target on the stock. Stifel Nicolaus’ price target suggests a potential upside of 5.07% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. ValuEngine upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a report on Monday, July 2nd. Mizuho set a $65.00 price objective on shares of Wave Life Sciences and gave the company a “buy” rating in a report on Friday, June 29th. HC Wainwright restated a “buy” rating and set a $49.00 price objective on shares of Wave Life Sciences in a report on Monday, July 23rd. Finally, TheStreet downgraded shares of Wave Life Sciences from a “c-” rating to a “d+” rating in a report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $58.40.
Wave Life Sciences stock traded up $0.40 during trading hours on Monday, reaching $53.30. The stock had a trading volume of 156,100 shares, compared to its average volume of 181,089. The company has a market capitalization of $1.50 billion, a PE ratio of -13.82 and a beta of 0.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.11 and a current ratio of 6.11. Wave Life Sciences has a 52 week low of $19.81 and a 52 week high of $55.95.
In related news, insider Chris Francis sold 24,496 shares of the company’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $37.27, for a total value of $912,965.92. The sale was disclosed in a document filed with the SEC, which is available at this link. 44.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in WVE. Wells Fargo & Company MN boosted its position in Wave Life Sciences by 5,257.8% in the 2nd quarter. Wells Fargo & Company MN now owns 360,633 shares of the company’s stock worth $13,794,000 after purchasing an additional 353,902 shares in the last quarter. BlackRock Inc. boosted its position in Wave Life Sciences by 60.0% in the 4th quarter. BlackRock Inc. now owns 934,733 shares of the company’s stock worth $32,810,000 after purchasing an additional 350,570 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Wave Life Sciences by 727.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 350,000 shares of the company’s stock worth $13,388,000 after purchasing an additional 307,700 shares in the last quarter. BB Biotech AG boosted its position in Wave Life Sciences by 27.0% in the 2nd quarter. BB Biotech AG now owns 1,137,885 shares of the company’s stock worth $43,524,000 after purchasing an additional 241,789 shares in the last quarter. Finally, Boxer Capital LLC boosted its position in Wave Life Sciences by 17.8% in the 2nd quarter. Boxer Capital LLC now owns 1,590,600 shares of the company’s stock worth $60,840,000 after purchasing an additional 240,600 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.
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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