WAVE Life Sciences (NASDAQ:WVE) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a report released on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $18.00 price objective on the stock.

A number of other brokerages have also recently issued reports on WVE. Oppenheimer began coverage on shares of WAVE Life Sciences in a research note on Monday, July 28th. They issued an “outperform” rating and a $24.00 price objective for the company. Citigroup began coverage on shares of WAVE Life Sciences in a research note on Wednesday, July 16th. They issued a “buy” rating and a $16.00 price objective for the company. Leerink Partners set a $26.00 price objective on shares of WAVE Life Sciences in a research note on Wednesday, September 3rd. B. Riley restated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

WAVE Life Sciences Trading Down 8.5%

Shares of WVE stock opened at $7.18 on Monday. WAVE Life Sciences has a 1 year low of $5.28 and a 1 year high of $16.74. The firm’s fifty day simple moving average is $8.02 and its 200 day simple moving average is $7.36. The firm has a market capitalization of $1.14 billion, a P/E ratio of -7.98 and a beta of -1.37.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million for the quarter, compared to analyst estimates of $11.52 million. Equities research analysts anticipate that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Activity at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 10,000 shares of WAVE Life Sciences stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $10.00, for a total value of $100,000.00. Following the transaction, the director owned 285,217 shares of the company’s stock, valued at approximately $2,852,170. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul Bolno sold 217,351 shares of WAVE Life Sciences stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $10.10, for a total transaction of $2,195,245.10. Following the completion of the transaction, the chief executive officer directly owned 121,000 shares in the company, valued at approximately $1,222,100. The trade was a 64.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 241,893 shares of company stock worth $2,423,068. Corporate insiders own 23.98% of the company’s stock.

Institutional Trading of WAVE Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. increased its holdings in WAVE Life Sciences by 20.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after buying an additional 2,500,000 shares during the last quarter. 683 Capital Management LLC increased its holdings in WAVE Life Sciences by 4.5% during the second quarter. 683 Capital Management LLC now owns 4,100,000 shares of the company’s stock worth $26,650,000 after buying an additional 175,000 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in WAVE Life Sciences by 35.3% during the second quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company’s stock worth $21,422,000 after buying an additional 859,160 shares during the last quarter. Emerald Advisers LLC increased its holdings in WAVE Life Sciences by 3.9% during the second quarter. Emerald Advisers LLC now owns 3,257,119 shares of the company’s stock worth $21,171,000 after buying an additional 123,561 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in WAVE Life Sciences by 0.8% during the first quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock worth $25,908,000 after buying an additional 23,891 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

WAVE Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.