Wave Life Sciences (NASDAQ:WVE) Coverage Initiated at B. Riley

B. Riley started coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $11.00 price target on the stock.

A number of other analysts also recently weighed in on the stock. Mizuho reiterated an outperform rating and issued a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. JPMorgan Chase & Co. started coverage on shares of Wave Life Sciences in a report on Monday, September 9th. They set an overweight rating and a $10.00 target price on the stock. Finally, HC Wainwright restated a buy rating and set a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Wave Life Sciences has an average rating of Moderate Buy and an average price target of $12.50.

Wave Life Sciences Trading Down 4.4 %

Wave Life Sciences stock opened at $5.68 on Thursday. The company has a market cap of $695.66 million, a PE ratio of -10.92 and a beta of -1.13. The company’s 50-day moving average is $5.84 and its two-hundred day moving average is $5.80. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Research analysts forecast that Wave Life Sciences will post -1.04 EPS for the current year.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after buying an additional 2,451 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after buying an additional 4,092 shares in the last quarter. Swiss National Bank grew its stake in shares of Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after buying an additional 4,100 shares in the last quarter. Finally, Capstone Investment Advisors LLC grew its stake in shares of Wave Life Sciences by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after buying an additional 4,500 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

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.