Analysts Set Wave Life Sciences Ltd. (NASDAQ:WVE) Price Target at $13.17

Wave Life Sciences Ltd. (NASDAQ:WVE) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $12.71.

A number of brokerages have issued reports on WVE. JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a research note on Monday, September 9th. They set an “overweight” rating and a $10.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. Finally, Mizuho reiterated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $5.86 on Monday. The stock has a market cap of $730.98 million, a P/E ratio of -11.19 and a beta of -1.13. The firm’s 50-day simple moving average is $5.82 and its 200 day simple moving average is $5.77. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The company had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter last year, the firm posted ($0.20) earnings per share. On average, sell-side analysts anticipate that Wave Life Sciences will post -1.05 earnings per share for the current fiscal year.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a filing with the SEC, which is available through this link. 29.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Ameritas Investment Partners Inc. lifted its holdings in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Oxford Asset Management LLP acquired a new position in Wave Life Sciences during the fourth quarter valued at $51,000. Profund Advisors LLC purchased a new stake in Wave Life Sciences in the 2nd quarter worth about $53,000. Principal Financial Group Inc. acquired a new stake in Wave Life Sciences during the 2nd quarter worth about $74,000. Finally, Mackenzie Financial Corp grew its stake in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.