Wave Life Sciences Ltd (NASDAQ:WVE) Receives Average Rating of “Hold” from Analysts

Wave Life Sciences Ltd (NASDAQ:WVE) has received a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $55.00.

WVE has been the topic of a number of research reports. BidaskClub raised shares of Wave Life Sciences from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Zacks Investment Research lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Mizuho reaffirmed a “buy” rating and set a $65.00 target price on shares of Wave Life Sciences in a research report on Monday, July 22nd. Cowen reaffirmed a “hold” rating on shares of Wave Life Sciences in a research report on Tuesday, July 30th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Wave Life Sciences in a research report on Wednesday, July 31st.

In other Wave Life Sciences news, insider Michael A. Panzara sold 3,058 shares of Wave Life Sciences stock in a transaction on Friday, July 5th. The shares were sold at an average price of $26.94, for a total transaction of $82,382.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 39.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC acquired a new stake in shares of Wave Life Sciences in the 2nd quarter valued at $44,000. Aperio Group LLC acquired a new stake in shares of Wave Life Sciences in the 2nd quarter valued at $51,000. Bank of Montreal Can boosted its stake in shares of Wave Life Sciences by 590.5% in the 2nd quarter. Bank of Montreal Can now owns 2,106 shares of the company’s stock valued at $55,000 after purchasing an additional 1,801 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Wave Life Sciences by 18.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock valued at $94,000 after purchasing an additional 569 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Wave Life Sciences by 17.9% in the 4th quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after purchasing an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Shares of NASDAQ:WVE traded down $0.43 during trading on Friday, reaching $21.34. The stock had a trading volume of 175,368 shares, compared to its average volume of 250,321. Wave Life Sciences has a 52 week low of $18.16 and a 52 week high of $56.00. The stock has a fifty day simple moving average of $22.58 and a two-hundred day simple moving average of $30.18. The firm has a market capitalization of $746.29 million, a price-to-earnings ratio of -4.22 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Monday, July 29th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.11). Wave Life Sciences had a negative return on equity of 120.41% and a negative net margin of 861.41%. The company had revenue of $7.63 million for the quarter, compared to the consensus estimate of $15.76 million. On average, analysts forecast that Wave Life Sciences will post -5.38 EPS for the current year.

About Wave Life Sciences

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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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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