Wave Life Sciences (NASDAQ:WVE) Coverage Initiated at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report issued on Tuesday. The firm set an “overweight” rating and a $10.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 46.41% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group started coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. StockNews.com upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Wedbush initiated coverage on Wave Life Sciences in a report on Tuesday, April 8th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $21.17.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $6.83 on Tuesday. The firm has a market capitalization of $1.05 billion, a PE ratio of -6.15 and a beta of -0.93. Wave Life Sciences has a 12 month low of $4.25 and a 12 month high of $16.74. The business’s fifty day moving average price is $8.40 and its 200 day moving average price is $11.53.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. The company had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. As a group, equities analysts anticipate that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This represents a 33.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WVE. Barclays PLC lifted its position in shares of Wave Life Sciences by 171.1% during the 3rd quarter. Barclays PLC now owns 159,241 shares of the company’s stock worth $1,307,000 after buying an additional 100,498 shares during the period. Kraematon Investment Advisors Inc. boosted its position in shares of Wave Life Sciences by 24.3% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock valued at $246,000 after acquiring an additional 3,885 shares during the period. SG Americas Securities LLC increased its holdings in Wave Life Sciences by 46.1% during the 4th quarter. SG Americas Securities LLC now owns 53,419 shares of the company’s stock valued at $661,000 after purchasing an additional 16,856 shares during the period. KBC Group NV bought a new stake in shares of Wave Life Sciences in the 4th quarter worth $67,000. Finally, Moody Aldrich Partners LLC boosted its stake in shares of Wave Life Sciences by 31.5% in the fourth quarter. Moody Aldrich Partners LLC now owns 398,475 shares of the company’s stock worth $4,929,000 after acquiring an additional 95,413 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.