Wave Life Sciences (NASDAQ:WVE) Coverage Initiated at B. Riley

B. Riley started coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research report released on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $11.00 target price on the stock.

WVE has been the subject of a number of other research reports. Mizuho reissued an outperform rating and set a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. JPMorgan Chase & Co. started coverage on Wave Life Sciences in a report on Monday, September 9th. They set an overweight rating and a $10.00 target price for the company. Finally, HC Wainwright reissued a buy rating and set a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $12.50.

Wave Life Sciences Price Performance

WVE stock opened at $5.68 on Thursday. The company has a fifty day moving average price of $5.84 and a two-hundred day moving average price of $5.80. Wave Life Sciences has a one year low of $3.50 and a one year high of $7.67. The stock has a market cap of $695.66 million, a price-to-earnings ratio of -10.92 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The company had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. During the same period last year, the firm earned ($0.20) earnings per share. Research analysts anticipate that Wave Life Sciences will post -1.04 EPS for the current fiscal year.

Insider Activity at Wave Life Sciences

In related 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 value of $279,555.48. Following the completion of the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WVE. Ameritas Investment Partners Inc. grew its position in 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 acquiring an additional 2,451 shares during the last quarter. Oxford Asset Management LLP bought a new position in Wave Life Sciences in the fourth quarter valued at about $51,000. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences during the second quarter worth about $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter worth about $74,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Company Profile

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.