WAVE Life Sciences Ltd. (WVE) Upgraded to Hold at BidaskClub
BidaskClub upgraded shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) from a sell rating to a hold rating in a report published on Saturday.
Other analysts have also issued research reports about the company. Mizuho set a $34.00 price objective on WAVE Life Sciences and gave the company a buy rating in a research note on Friday, August 18th. Jefferies Group LLC reaffirmed a buy rating and set a $40.00 price objective (down previously from $42.00) on shares of WAVE Life Sciences in a research note on Thursday, August 10th. JMP Securities reaffirmed an outperform rating and set a $40.00 price objective on shares of WAVE Life Sciences in a research note on Friday, June 9th. Zacks Investment Research lowered WAVE Life Sciences from a hold rating to a sell rating in a research note on Thursday, July 27th. Finally, ValuEngine lowered WAVE Life Sciences from a hold rating to a sell rating in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $40.00.
WAVE Life Sciences (NASDAQ WVE) traded up 7.76% during midday trading on Friday, reaching $18.75. 223,906 shares of the company were exchanged. WAVE Life Sciences has a 52 week low of $15.15 and a 52 week high of $40.15. The firm’s 50 day moving average price is $18.16 and its 200-day moving average price is $22.33. The stock’s market capitalization is $520.50 million.
WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by $0.14. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.73 million. WAVE Life Sciences had a negative net margin of 3,375.12% and a negative return on equity of 55.19%. Equities analysts forecast that WAVE Life Sciences will post ($3.71) EPS for the current fiscal year.
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In other WAVE Life Sciences news, insider Michael A. Panzara sold 7,414 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $16.67, for a total value of $123,591.38. Following the sale, the insider now directly owns 15,336 shares of the company’s stock, valued at approximately $255,651.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 53.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of WVE. Redmile Group LLC raised its stake in shares of WAVE Life Sciences by 75.0% in the second quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock worth $41,374,000 after buying an additional 953,310 shares during the last quarter. Clough Capital Partners L P raised its stake in shares of WAVE Life Sciences by 93.3% in the first quarter. Clough Capital Partners L P now owns 408,006 shares of the company’s stock worth $10,935,000 after buying an additional 196,903 shares during the last quarter. Northern Trust Corp raised its stake in shares of WAVE Life Sciences by 66.3% in the second quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock worth $3,085,000 after buying an additional 66,120 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of WAVE Life Sciences by 40.3% in the second quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock worth $4,012,000 after buying an additional 61,910 shares during the last quarter. Finally, Eventide Asset Management LLC raised its stake in shares of WAVE Life Sciences by 13.0% in the first quarter. Eventide Asset Management LLC now owns 433,500 shares of the company’s stock worth $11,921,000 after buying an additional 49,870 shares during the last quarter. 57.03% of the stock is currently owned by hedge funds and other institutional investors.
About WAVE Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in 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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