Wave Life Sciences (NASDAQ:WVE) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research note issued to investors on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $13.00 price target on the stock.

WVE has been the topic of several other research reports. B. Riley initiated coverage on Wave Life Sciences in a research note on Thursday, September 19th. They set a buy rating and a $11.00 target price on the stock. Mizuho reissued an outperform rating and set a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Finally, HC Wainwright lifted their target price on Wave Life Sciences from $15.00 to $22.00 and gave the company a buy rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Wave Life Sciences has a consensus rating of Moderate Buy and an average target price of $13.75.

Wave Life Sciences Trading Down 1.1 %

WVE opened at $8.20 on Friday. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $9.92. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -15.77 and a beta of -1.13. The stock has a fifty day simple moving average of $6.03 and a two-hundred day simple moving average of $5.84.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The business had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. During the same period last year, the business earned ($0.20) earnings per share. On average, analysts predict that Wave Life Sciences will post -1.04 EPS for the current year.

Insider Transactions at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares in the company, 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 link. Also, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. The disclosure for this sale can be found here. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds have recently made changes to their positions in WVE. Artal Group S.A. raised its stake in Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after buying an additional 1,044,000 shares during the last quarter. Emerald Advisers LLC purchased a new stake in Wave Life Sciences in the second quarter valued at about $12,441,000. Price T Rowe Associates Inc. MD raised its stake in Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after buying an additional 233,891 shares during the last quarter. Vanguard Group Inc. raised its stake in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after buying an additional 521,665 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Wave Life Sciences in the second quarter valued at about $9,086,000. 89.73% of the stock is currently owned by hedge funds and other 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.