WAVE Life Sciences (NASDAQ:WVE) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH assumed coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 target price on the stock.

A number of other equities research analysts have also commented on WVE. UBS Group set a $13.00 price objective on WAVE Life Sciences in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. Wedbush decreased their price target on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.65.

WAVE Life Sciences Stock Down 2.6%

NASDAQ:WVE opened at $3.78 on Thursday. The business’s 50-day moving average price is $4.94 and its 200 day moving average price is $6.25. The firm has a market cap of $744.85 million, a P/E ratio of -3.47 and a beta of -1.43. WAVE Life Sciences has a 52-week low of $3.56 and a 52-week high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The company had revenue of $2.27 million during the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. Sell-side analysts expect that WAVE Life Sciences will post -1.12 EPS for the current year.

Insider Transactions at WAVE Life Sciences

In other WAVE Life Sciences news, Director Heidi Wagner sold 7,000 shares of WAVE Life Sciences stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total value of $42,070.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. The trade was a 13.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Adrian Rawcliffe sold 12,700 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total transaction of $67,183.00. The disclosure for this sale is available in the SEC filing. Insiders sold 23,564 shares of company stock worth $132,476 over the last quarter. 24.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of hedge funds have recently made changes to their positions in WVE. Integrated Wealth Concepts LLC bought a new position in WAVE Life Sciences in the 2nd quarter valued at $180,000. Squarepoint Ops LLC increased its stake in shares of WAVE Life Sciences by 68.0% in the 2nd quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company’s stock valued at $14,766,000 after buying an additional 1,029,052 shares during the period. Arizona State Retirement System raised its position in shares of WAVE Life Sciences by 17.1% during the second quarter. Arizona State Retirement System now owns 35,826 shares of the company’s stock worth $208,000 after acquiring an additional 5,228 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of WAVE Life Sciences during the second quarter worth $27,465,000. Finally, AlphaGrep UK Ltd acquired a new position in shares of WAVE Life Sciences during the second quarter valued at $78,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. is a clinical-stage biotechnology company developing RNA medicines for genetic and other serious diseases. The company uses its proprietary oligonucleotide and RNA-editing technologies to target disease-causing genetic instructions, with the goal of selectively correcting, reducing, or modifying RNA activity.

Its development programs have included investigational therapies for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy, and Huntington’s disease.