Wave Life Sciences (WVE) Downgraded by BidaskClub to Sell

BidaskClub cut shares of Wave Life Sciences (NASDAQ:WVE) from a hold rating to a sell rating in a research note issued to investors on Saturday, March 30th, BidAskClub reports.

WVE has been the topic of a number of other reports. ValuEngine raised shares of Wave Life Sciences from a hold rating to a buy rating in a report on Tuesday, March 5th. Zacks Investment Research cut shares of Wave Life Sciences from a hold rating to a sell rating in a report on Saturday, January 26th. HC Wainwright set a $49.00 price target on shares of Wave Life Sciences and gave the company a buy rating in a report on Monday, December 10th. Finally, Mizuho set a $65.00 price target on shares of Wave Life Sciences and gave the company a buy rating in a report on Thursday, December 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $57.75.

Shares of WVE stock traded down $0.06 on Friday, reaching $34.02. The stock had a trading volume of 532,875 shares, compared to its average volume of 399,168. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.72 and a beta of 0.83. Wave Life Sciences has a 12 month low of $32.25 and a 12 month high of $56.00.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Friday, March 1st. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.24) by ($0.05). The firm had revenue of $3.62 million during the quarter, compared to the consensus estimate of $6.01 million. Wave Life Sciences had a negative net margin of 1,017.43% and a negative return on equity of 136.64%. Sell-side analysts predict that Wave Life Sciences will post -3.91 EPS for the current fiscal year.

In other news, insider Paul Bolno sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $45.48, for a total transaction of $2,274,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ra Capital Management, Llc bought 263,158 shares of the stock in a transaction dated Thursday, January 24th. The shares were acquired at an average cost of $38.00 per share, for a total transaction of $10,000,004.00. The disclosure for this purchase can be found here. 44.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in WVE. Quantamental Technologies LLC bought a new position in shares of Wave Life Sciences during the fourth quarter worth approximately $29,000. Citigroup Inc. increased its holdings in shares of Wave Life Sciences by 189.4% during the fourth quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock worth $118,000 after purchasing an additional 1,837 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Wave Life Sciences by 45.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the period. Legal & General Group Plc increased its holdings in shares of Wave Life Sciences by 17.9% during the fourth quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock worth $130,000 after purchasing an additional 469 shares during the period. Finally, United Services Automobile Association bought a new position in shares of Wave Life Sciences during the third quarter worth approximately $204,000. 71.31% of the stock is currently owned by institutional investors.

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.

Featured Article: Diversification in Investing

Receive News & Ratings for Wave Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wave Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.