Several other analysts also recently weighed in on the company. ValuEngine downgraded Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 24th. Mizuho reiterated a “buy” rating and set a $65.00 target price on shares of Wave Life Sciences in a research note on Monday. Finally, Zacks Investment Research downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Wave Life Sciences currently has a consensus rating of “Hold” and an average target price of $57.75.
WVE opened at $34.02 on Tuesday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -6.72 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. Wave Life Sciences has a one year low of $32.25 and a one year high of $56.00.
Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Friday, March 1st. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.05). The business had revenue of $3.62 million for the quarter, compared to the consensus estimate of $6.01 million. Wave Life Sciences had a negative net margin of 1,017.43% and a negative return on equity of 136.64%. Equities research analysts forecast that Wave Life Sciences will post -3.91 EPS for the current fiscal year.
In other news, Director Ra Capital Management, Llc purchased 263,158 shares of the stock in a transaction dated Thursday, January 24th. The shares were purchased at an average cost of $38.00 per share, with a total value of $10,000,004.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Bolno sold 50,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $45.48, for a total value of $2,274,000.00. The disclosure for this sale can be found here. Company insiders own 44.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. Geode Capital Management LLC raised its holdings in Wave Life Sciences by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 193,595 shares of the company’s stock worth $8,138,000 after purchasing an additional 15,664 shares during the period. Legal & General Group Plc raised its holdings in Wave Life Sciences by 17.9% in the 4th quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock worth $130,000 after purchasing an additional 469 shares during the period. Wexford Capital LP bought a new position in Wave Life Sciences in the 4th quarter worth $430,000. Amundi Pioneer Asset Management Inc. raised its holdings in Wave Life Sciences by 45.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in Wave Life Sciences by 14.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 125,291 shares of the company’s stock worth $5,268,000 after purchasing an additional 16,177 shares during the period. 71.31% of the stock is currently owned by hedge funds and other institutional investors.
About Wave Life Sciences
Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily 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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