WAVE Life Sciences (NASDAQ:WVE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of WAVE Life Sciences (NASDAQ:WVE) from a strong sell rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on WVE. UBS Group assumed coverage on WAVE Life Sciences in a research report on Thursday, October 15th. They issued a “buy” rating and a $11.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of WAVE Life Sciences in a research note on Wednesday, September 23rd. They issued a “neutral” rating for the company. Zacks Research lowered WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Mizuho decreased their target price on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Finally, LADENBURG THALM/SH SH initiated coverage on WAVE Life Sciences in a research report on Thursday, October 1st. They set a “buy” rating and a $10.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.89.

WAVE Life Sciences Stock Performance

WVE stock opened at $3.52 on Friday. The firm has a 50 day moving average of $4.03 and a 200-day moving average of $7.44. WAVE Life Sciences has a 12 month low of $3.04 and a 12 month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, October 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. WAVE Life Sciences had a negative net margin of 296.86% and a negative return on equity of 44.66%. The business had revenue of $13.16 million for the quarter, compared to analyst estimates of $4.51 million. On average, analysts anticipate that WAVE Life Sciences will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 12,700 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi L. Wagner sold 7,000 shares of the 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 completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. This represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,564 shares of company stock valued at $132,476 over the last 90 days. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On WAVE Life Sciences

Several institutional investors have recently made changes to their positions in the business. Readystate Asset Management LP purchased a new position in WAVE Life Sciences during the second quarter valued at $27,465,000. Squarepoint Ops LLC lifted its holdings in WAVE Life Sciences by 68.0% during 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 360,800 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in WAVE Life Sciences by 42.6% in the 1st 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 during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in WAVE Life Sciences in the 1st quarter valued at about $1,138,000. 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 act on RNA, a molecule involved in translating genetic information into proteins. The company uses its proprietary chemistry and drug-design technologies to create oligonucleotide therapeutics intended to selectively modify RNA and address the underlying causes of genetic diseases.

Its research programs have included RNA editing and RNA-targeting approaches for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy and other serious genetic disorders.