Other equities research analysts have also recently issued reports about the company. Cowen reaffirmed a hold rating on shares of Wave Life Sciences in a report on Tuesday, July 30th. ValuEngine upgraded Wave Life Sciences from a hold rating to a buy rating in a research report on Wednesday. Mizuho restated a buy rating and set a $65.00 target price on shares of Wave Life Sciences in a research report on Monday, July 22nd. HC Wainwright restated a buy rating on shares of Wave Life Sciences in a research report on Wednesday, July 31st. Finally, Zacks Investment Research lowered Wave Life Sciences from a buy rating to a hold rating in a report on Saturday, August 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $49.50.
WVE stock traded down $0.19 on Thursday, reaching $23.91. 6,423 shares of the company traded hands, compared to its average volume of 194,288. The firm has a fifty day simple moving average of $21.35 and a 200-day simple moving average of $28.80. 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 has a one year low of $18.16 and a one year high of $56.00. The company has a market cap of $812.79 million, a P/E ratio of -4.71 and a beta of 0.78.
Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Monday, July 29th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.11). The firm had revenue of $7.63 million during the quarter, compared to analysts’ expectations of $15.76 million. Wave Life Sciences had a negative return on equity of 120.41% and a negative net margin of 861.41%. On average, sell-side analysts forecast that Wave Life Sciences will post -5.38 EPS for the current year.
In related news, insider Michael A. Panzara sold 3,058 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $26.94, for a total value of $82,382.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 39.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of WVE. Quantamental Technologies LLC bought a new position in Wave Life Sciences in the second quarter worth approximately $44,000. Aperio Group LLC acquired a new position in shares of Wave Life Sciences during the second quarter worth $51,000. Bank of Montreal Can increased its position in shares of Wave Life Sciences by 590.5% during the second quarter. Bank of Montreal Can now owns 2,106 shares of the company’s stock worth $55,000 after purchasing an additional 1,801 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Wave Life Sciences by 18.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock worth $94,000 after purchasing an additional 569 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Wave Life Sciences during the first quarter worth $140,000. 88.84% of the stock is owned by institutional investors.
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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