WAVE Life Sciences (WVE) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of WAVE Life Sciences (NASDAQ:WVE) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also issued reports on WVE. Mizuho set a $34.00 target price on shares of WAVE Life Sciences and gave the company a buy rating in a research note on Friday, August 18th. Jefferies Group reissued a buy rating and set a $40.00 target price (down previously from $42.00) on shares of WAVE Life Sciences in a research note on Thursday, August 10th. Leerink Swann reissued an outperform rating and set a $53.00 target price (up previously from $42.00) on shares of WAVE Life Sciences in a research note on Wednesday, November 15th. Finally, Zacks Investment Research raised shares of WAVE Life Sciences from a sell rating to a hold rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $41.60.

Shares of WAVE Life Sciences (NASDAQ:WVE) opened at $38.00 on Friday. WAVE Life Sciences has a 52 week low of $15.15 and a 52 week high of $39.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.50 and a current ratio of 11.50.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.03. The company had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.77 million. WAVE Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. analysts forecast that WAVE Life Sciences will post -3.76 earnings per share for the current fiscal year.

In other WAVE Life Sciences news, Director Ra Capital Management, Llc acquired 423,398 shares of WAVE Life Sciences stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $23.34 per share, with a total value of $9,882,109.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chandra Vargeese sold 1,500 shares of WAVE Life Sciences stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. The disclosure for this sale can be found here. 53.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in WVE. American International Group Inc. raised its holdings in WAVE Life Sciences by 7.1% in the 1st quarter. American International Group Inc. now owns 4,554 shares of the company’s stock worth $125,000 after acquiring an additional 302 shares during the period. Geode Capital Management LLC raised its holdings in WAVE Life Sciences by 4.6% in the 1st quarter. Geode Capital Management LLC now owns 76,478 shares of the company’s stock worth $2,103,000 after acquiring an additional 3,397 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in WAVE Life Sciences by 6.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 30,707 shares of the company’s stock worth $845,000 after acquiring an additional 1,881 shares during the period. Strs Ohio raised its holdings in WAVE Life Sciences by 6.3% in the 2nd quarter. Strs Ohio now owns 11,900 shares of the company’s stock worth $221,000 after acquiring an additional 700 shares during the period. Finally, Rhumbline Advisers raised its holdings in WAVE Life Sciences by 62.3% in the 2nd quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock worth $233,000 after acquiring an additional 4,800 shares during the period. Hedge funds and other institutional investors own 73.74% of the company’s stock.

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About WAVE Life Sciences

WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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