Wave Life Sciences Ltd (NASDAQ:WVE)’s share price shot up 12.4% during trading on Tuesday . The company traded as high as $32.26 and last traded at $32.12, 357,900 shares changed hands during trading. An increase of 9% from the average session volume of 329,783 shares. The stock had previously closed at $28.57.
A number of research firms recently commented on WVE. Mizuho reiterated a “buy” rating on shares of Wave Life Sciences in a research report on Wednesday, September 25th. Cowen reiterated a “hold” rating on shares of Wave Life Sciences in a research report on Tuesday, July 30th. HC Wainwright set a $33.00 price objective on Wave Life Sciences and gave the company a “buy” rating in a research report on Wednesday, October 9th. Guggenheim began coverage on Wave Life Sciences in a research report on Friday, November 1st. They set a “buy” rating and a $43.00 price objective for the company. Finally, BidaskClub upgraded Wave Life Sciences from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $48.20.
The company has a market cap of $982.74 million, a PE ratio of -6.35 and a beta of 0.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.88 and a quick ratio of 1.88. The business has a 50-day moving average of $23.41 and a 200 day moving average of $23.86.
Large investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC bought a new stake in Wave Life Sciences during the second quarter valued at about $44,000. Aperio Group LLC bought a new position in shares of Wave Life Sciences in the second quarter worth about $51,000. Bank of Montreal Can boosted its stake in shares of Wave Life Sciences by 590.5% in the second quarter. Bank of Montreal Can now owns 2,106 shares of the company’s stock worth $55,000 after acquiring an additional 1,801 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Wave Life Sciences by 18.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock worth $94,000 after acquiring an additional 569 shares during the period. Finally, Virtus ETF Advisers LLC boosted its stake in shares of Wave Life Sciences by 93.3% in the second quarter. Virtus ETF Advisers LLC now owns 10,387 shares of the company’s stock worth $271,000 after acquiring an additional 5,014 shares during the period. 88.98% of the stock is owned by institutional investors and hedge funds.
About Wave Life Sciences (NASDAQ:WVE)
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.
Featured Story: What is the role of the G-20?
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.