Wave Life Sciences (NASDAQ:WVE) Now Covered by JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research note issued to investors on Friday, Marketbeat reports. The firm set an “overweight” rating and a $13.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 56.82% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Mizuho reissued an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright increased their price objective on shares of Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, B. Riley started coverage on shares of Wave Life Sciences in a research report on Thursday, September 19th. They set a “buy” rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.75.

Wave Life Sciences Trading Up 3.4 %

Shares of WVE opened at $8.29 on Friday. The stock has a market capitalization of $1.02 billion, a P/E ratio of -15.94 and a beta of -1.13. The firm’s fifty day simple moving average is $6.03 and its two-hundred day simple moving average is $5.85. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last issued 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 firm had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same period last year, the company posted ($0.20) EPS. As a group, research analysts predict that Wave Life Sciences will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of 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 document filed with the SEC, which is available at this link. Also, CFO Kyle Moran sold 17,146 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Emerald Advisers LLC purchased a new stake in Wave Life Sciences in the 2nd quarter valued at about $12,441,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Wave Life Sciences during the 2nd quarter valued at approximately $9,086,000. Artal Group S.A. grew its position in shares of Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after acquiring an additional 1,044,000 shares during the period. Ikarian Capital LLC bought a new position in shares of Wave Life Sciences during the 1st quarter valued at approximately $3,641,000. Finally, Vanguard Group Inc. grew its position in shares of Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.