WAVE Life Sciences Ltd. (WVE) Given Average Rating of “Buy” by Brokerages
Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have received an average rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $41.75.
WVE has been the topic of a number of research reports. Zacks Investment Research lowered WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Leerink Swann reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $42.00) on shares of WAVE Life Sciences in a report on Wednesday. BidaskClub raised WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Tuesday. Mizuho set a $34.00 price objective on WAVE Life Sciences and gave the company a “buy” rating in a report on Saturday, October 21st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price objective (down from $42.00) on shares of WAVE Life Sciences in a report on Thursday, August 10th.
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WAVE Life Sciences (NASDAQ:WVE) traded up $2.05 during mid-day trading on Monday, hitting $31.75. The company had a trading volume of 171,835 shares, compared to its average volume of 132,734. The company has a current ratio of 11.50, a quick ratio of 11.50 and a debt-to-equity ratio of 0.01. WAVE Life Sciences has a 1-year low of $15.15 and a 1-year high of $40.15.
WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.94) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.03. WAVE Life Sciences had a negative return on equity of 59.52% and a negative net margin of 3,338.68%. The firm had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.77 million. equities analysts forecast that WAVE Life Sciences will post -3.76 EPS for the current year.
In related news, Director Ra Capital Management, Llc bought 423,398 shares of WAVE Life Sciences stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $23.34 per share, with a total value of $9,882,109.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Masaharu Tanaka sold 20,747 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $24.21, for a total value of $502,284.87. The disclosure for this sale can be found here. Corporate insiders own 53.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of WAVE Life Sciences by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 31,350 shares of the company’s stock worth $862,000 after purchasing an additional 279 shares in the last quarter. American International Group Inc. grew its holdings in shares of WAVE Life Sciences by 7.1% during the 1st quarter. American International Group Inc. now owns 4,554 shares of the company’s stock worth $125,000 after purchasing an additional 302 shares in the last quarter. Emory University grew its holdings in shares of WAVE Life Sciences by 0.6% during the 2nd quarter. Emory University now owns 74,020 shares of the company’s stock worth $1,377,000 after purchasing an additional 477 shares in the last quarter. Strs Ohio grew its holdings in shares of WAVE Life Sciences by 6.3% during the 2nd quarter. Strs Ohio now owns 11,900 shares of the company’s stock worth $221,000 after purchasing an additional 700 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of WAVE Life Sciences by 6.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 30,707 shares of the company’s stock worth $845,000 after purchasing an additional 1,881 shares in the last quarter. 69.53% of the stock is currently owned by 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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