WAVE Life Sciences (NASDAQ:WVE) Now Covered by LADENBURG THALM/SH SH

Stock analysts at LADENBURG THALM/SH SH started coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a report released on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. LADENBURG THALM/SH SH’s price target points to a potential upside of 170.27% from the stock’s previous close.

WVE has been the subject of several other reports. UBS Group set a $13.00 target price on WAVE Life Sciences in a report on Monday, August 3rd. JPMorgan Chase & Co. began coverage on WAVE Life Sciences in a research report on Wednesday, September 23rd. They set a “neutral” rating for the company. New Street Research set a $13.00 price objective on WAVE Life Sciences in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. Finally, Mizuho reduced their price target on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, WAVE Life Sciences currently has an average rating of “Moderate Buy” and an average target price of $21.59.

WAVE Life Sciences Stock Performance

WAVE Life Sciences stock opened at $3.70 on Thursday. WAVE Life Sciences has a 1 year low of $3.56 and a 1 year high of $21.73. The firm’s 50-day moving average is $5.02 and its 200-day moving average is $6.33. The company has a market cap of $729.09 million, a P/E ratio of -3.39 and a beta of -1.30.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The business had revenue of $2.27 million for 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%. As a group, sell-side analysts predict that WAVE Life Sciences will post -1.12 earnings per share for the current year.

Insider Activity at WAVE Life Sciences

In related news, Director Adrian Rawcliffe sold 12,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Heidi Wagner sold 7,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were 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 approximately $270,029.30. The trade was a 13.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,564 shares of company stock worth $132,476. 24.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Large investors have recently made changes to their positions in the business. Readystate Asset Management LP acquired a new position in shares of WAVE Life Sciences in the 2nd quarter worth approximately $27,465,000. Squarepoint Ops LLC increased its holdings in shares of WAVE Life Sciences by 68.0% in the second 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 in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of WAVE Life Sciences by 42.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,149,127 shares of the company’s stock valued at $8,202,000 after buying an additional 343,226 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of WAVE Life Sciences by 152.6% during the 1st quarter. Renaissance Technologies LLC now owns 597,220 shares of the company’s stock valued at $4,330,000 after acquiring an additional 360,800 shares during the last quarter. Finally, Eventide Asset Management LLC bought a new stake in shares of WAVE Life Sciences during the 4th quarter worth $8,500,000. Institutional investors own 89.73% of the company’s stock.

About WAVE Life Sciences

WAVE Life Sciences Ltd. (NASDAQ: WVE) is a biotechnology company focused on developing medicines that target RNA, the biological molecule that helps translate genetic information into proteins. The company uses its oligonucleotide chemistry and delivery technologies to pursue treatments for genetically defined diseases, including conditions affecting the liver, muscles and nervous system.

WAVE’s research programs include RNA editing medicines designed to correct or modify disease-related genetic messages without permanently altering DNA.