Wave Life Sciences (NASDAQ:WVE) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research report released on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $13.00 price objective on the stock.

Several other analysts have also commented on WVE. B. Riley initiated coverage on Wave Life Sciences in a report on Thursday, September 19th. They set a buy rating and a $11.00 target price on the stock. HC Wainwright raised their target price on Wave Life Sciences from $15.00 to $22.00 and gave the stock a buy rating in a report on Wednesday, September 25th. Finally, Mizuho reaffirmed an outperform rating and set a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Wave Life Sciences currently has an average rating of Moderate Buy and a consensus price target of $13.75.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $8.20 on Friday. The stock’s 50-day simple moving average is $6.03 and its 200-day simple moving average is $5.84. The firm has a market capitalization of $1.00 billion, a PE ratio of -15.77 and a beta of -1.13. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to analyst estimates 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 in the prior year, the company posted ($0.20) earnings per share. Sell-side analysts forecast that Wave Life Sciences will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wave Life Sciences

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new stake in Wave Life Sciences during the second quarter worth $53,000. Principal Financial Group Inc. acquired a new stake in Wave Life Sciences during the second quarter worth $74,000. Mackenzie Financial Corp increased its stake in 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 acquiring an additional 1,905 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Wave Life Sciences during the fourth quarter worth $86,000. Hedge funds and other 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.