Wave Life Sciences (NASDAQ:WVE) Upgraded by StockNews.com to Hold Rating

Wave Life Sciences (NASDAQ:WVE) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group assumed coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Truist Financial boosted their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Mizuho boosted their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Stock Down 7.7 %

Shares of Wave Life Sciences stock opened at $9.40 on Friday. The company has a market cap of $1.43 billion, a PE ratio of -8.47 and a beta of -1.09. The business has a 50 day moving average of $11.44 and a 200 day moving average of $11.21. Wave Life Sciences has a 52 week low of $4.25 and a 52 week high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. On average, research analysts anticipate that Wave Life Sciences will post -1.14 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the transaction, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several large investors have recently bought and sold shares of WVE. Victory Capital Management Inc. lifted its stake in Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after acquiring an additional 2,073 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Wave Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after purchasing an additional 2,308 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Wave Life Sciences during the fourth quarter valued at approximately $40,000. Kraematon Investment Advisors Inc. boosted its holdings in Wave Life Sciences by 24.3% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock worth $246,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Wave Life Sciences by 36.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company’s stock worth $193,000 after purchasing an additional 4,120 shares during the period. 89.73% of the stock is currently owned by 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.