Analysts’ Weekly Ratings Updates for Wave Life Sciences (WVE)

by · The Cerbat Gem

Wave Life Sciences (NASDAQ: WVE) recently received a number of ratings updates from brokerages and research firms:

  • 11/4/2024 – Wave Life Sciences had its price target raised by analysts at B. Riley from $19.00 to $22.00. They now have a “buy” rating on the stock.
  • 10/31/2024 – Wave Life Sciences had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $22.00 price target on the stock.
  • 10/21/2024 – Wave Life Sciences had its price target raised by analysts at Royal Bank of Canada from $7.00 to $15.00. They now have a “sector perform” rating on the stock.
  • 10/17/2024 – Wave Life Sciences had its price target raised by analysts at JPMorgan Chase & Co. from $13.00 to $17.00. They now have an “overweight” rating on the stock.
  • 10/17/2024 – Wave Life Sciences had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $22.00 price target on the stock.
  • 10/16/2024 – Wave Life Sciences was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating. They now have a $22.00 price target on the stock, up previously from $13.00.
  • 10/16/2024 – Wave Life Sciences had its price target raised by analysts at Wells Fargo & Company from $11.00 to $22.00. They now have an “overweight” rating on the stock.
  • 10/16/2024 – Wave Life Sciences had its price target raised by analysts at Leerink Partners from $20.00 to $22.00. They now have an “outperform” rating on the stock.
  • 10/4/2024 – Wave Life Sciences had its price target raised by analysts at Royal Bank of Canada from $5.00 to $7.00. They now have a “sector perform” rating on the stock.
  • 10/3/2024 – Wave Life Sciences had its price target raised by analysts at B. Riley from $11.00 to $19.00. They now have a “buy” rating on the stock.
  • 9/27/2024 – Wave Life Sciences is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $13.00 price target on the stock.
  • 9/25/2024 – Wave Life Sciences had its price target raised by analysts at HC Wainwright from $15.00 to $22.00. They now have a “buy” rating on the stock.
  • 9/19/2024 – Wave Life Sciences is now covered by analysts at B. Riley. They set a “buy” rating and a $11.00 price target on the stock.
  • 9/9/2024 – Wave Life Sciences is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $10.00 price target on the stock.

Wave Life Sciences Stock Down 0.3 %

WVE stock traded down $0.04 during midday trading on Monday, hitting $13.79. The company’s stock had a trading volume of 789,836 shares, compared to its average volume of 1,100,364. The firm has a 50-day simple moving average of $8.87 and a 200-day simple moving average of $6.85. The firm has a market capitalization of $1.72 billion, a P/E ratio of -24.19 and a beta of -1.20. Wave Life Sciences Ltd. has a 52-week low of $3.50 and a 52-week high of $15.92.

Wave Life Sciences (NASDAQ:WVE – Get Free Report) last posted its quarterly earnings results 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 return on equity of 1,395.99% and a negative net margin of 66.50%. The firm had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same quarter last year, the firm earned ($0.20) EPS. On average, sell-side analysts expect that Wave Life Sciences Ltd. will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction 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 directly owns 19,777 shares in the company, valued at $177,993. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 364,822 shares of company stock worth $4,645,768 over the last 90 days. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after purchasing an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in 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 during the period. Profund Advisors LLC acquired a new stake in Wave Life Sciences during the 2nd quarter valued at $53,000. Principal Financial Group Inc. bought a new stake in Wave Life Sciences in the 2nd quarter valued at $74,000. Finally, Mackenzie Financial Corp raised its position in shares of Wave Life Sciences by 13.6% in the 2nd 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. Institutional investors own 89.73% of the company’s stock.

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.

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