WVE has been the topic of several other research reports. Mizuho reissued a “buy” rating and set a $65.00 price objective on shares of Wave Life Sciences in a research note on Monday, July 22nd. Cowen reaffirmed a “hold” rating on shares of Wave Life Sciences in a research report on Tuesday, July 30th. SunTrust Banks decreased their target price on shares of Wave Life Sciences to $39.00 and set a “buy” rating for the company in a research report on Monday, May 20th. BidaskClub lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, HC Wainwright reissued a “buy” rating on shares of Wave Life Sciences in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $49.50.
Shares of Wave Life Sciences stock traded up $1.33 during midday trading on Wednesday, hitting $25.04. 122,583 shares of the company were exchanged, compared to its average volume of 366,224. The firm has a market cap of $718.18 million, a P/E ratio of -4.95 and a beta of 0.78. The firm has a 50 day simple moving average of $21.35 and a 200-day simple moving average of $28.80. Wave Life Sciences has a 52 week low of $18.16 and a 52 week high of $56.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.33 and a quick ratio of 2.33.
Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Monday, July 29th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.11). Wave Life Sciences had a negative return on equity of 120.41% and a negative net margin of 861.41%. The company had revenue of $7.63 million for the quarter, compared to analyst estimates of $15.76 million. Equities research analysts expect that Wave Life Sciences will post -5.38 earnings per share for the current year.
In other news, insider Michael A. Panzara sold 3,058 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $26.94, for a total value of $82,382.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 39.70% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of WVE. Platinum Investment Management Ltd. raised its holdings in shares of Wave Life Sciences by 48.9% in the second quarter. Platinum Investment Management Ltd. now owns 70,942 shares of the company’s stock valued at $1,851,000 after purchasing an additional 23,294 shares during the last quarter. United Services Automobile Association purchased a new stake in Wave Life Sciences in the 2nd quarter worth about $1,275,000. Voloridge Investment Management LLC bought a new stake in shares of Wave Life Sciences in the second quarter valued at approximately $585,000. Nuveen Asset Management LLC bought a new stake in Wave Life Sciences during the 2nd quarter valued at $2,028,000. Finally, Morgan Stanley raised its stake in shares of Wave Life Sciences by 140.6% during the 2nd quarter. Morgan Stanley now owns 18,692 shares of the company’s stock valued at $487,000 after purchasing an additional 10,922 shares during the period. Institutional investors own 88.84% of the company’s stock.
About Wave Life Sciences
Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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