Wave Life Sciences Ltd (NASDAQ:WVE) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $49.50.
A number of brokerages recently weighed in on WVE. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a research note on Saturday, June 29th. SunTrust Banks raised their target price on shares of Perrigo to $51.00 and gave the company a “hold” rating in a research note on Monday, May 20th. Stifel Nicolaus raised shares of QUALCOMM from a “hold” rating to a “buy” rating and raised their target price for the company from $57.00 to $100.00 in a research note on Tuesday, April 16th. HC Wainwright downgraded shares of Hydrogenics from a “buy” rating to a “neutral” rating in a research note on Friday, June 28th. Finally, ValuEngine downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th.
NASDAQ WVE traded up $0.19 during trading on Friday, hitting $26.23. 257,756 shares of the company’s stock traded hands, compared to its average volume of 262,090. The stock has a market capitalization of $892.25 million, a PE ratio of -5.18 and a beta of 0.83. Wave Life Sciences has a 12-month low of $22.25 and a 12-month high of $56.00. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $25.42.
In other news, insider Michael A. Panzara sold 3,058 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $26.94, for a total value of $82,382.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 39.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in WVE. Citigroup Inc. lifted its stake in Wave Life Sciences by 189.4% in the fourth quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock worth $118,000 after acquiring an additional 1,837 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Wave Life Sciences by 17.9% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,045 shares of the company’s stock valued at $118,000 after buying an additional 462 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in 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 valued at $122,000 after buying an additional 900 shares during the period. Legal & General Group Plc lifted its position in Wave Life Sciences by 17.9% during the fourth quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after buying an additional 469 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Wave Life Sciences during the first quarter valued at $140,000. 85.62% of the stock is owned by institutional investors.
Wave Life Sciences Company Profile
Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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