Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $13.17 Consensus PT from Brokerages

Wave Life Sciences Ltd. (NASDAQ:WVE) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $13.17.

A number of equities analysts have issued reports on the company. Mizuho reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Wells Fargo & Company assumed coverage on Wave Life Sciences in a research report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 target price on the stock. StockNews.com lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $17.00 target price on shares of Wave Life Sciences in a research report on Monday, April 1st.

Wave Life Sciences Price Performance

Wave Life Sciences stock opened at $6.53 on Friday. The stock’s 50 day moving average price is $5.83 and its 200 day moving average price is $5.43. Wave Life Sciences has a one year low of $3.50 and a one year high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The company had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $25.67 million. During the same quarter in the previous year, the business earned ($0.27) earnings per share. As a group, research analysts predict that Wave Life Sciences will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in WVE. Ameritas Investment Partners Inc. raised its position in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares in the last quarter. Oxford Asset Management LLP bought a new position in Wave Life Sciences during the 4th quarter worth $51,000. Tower Research Capital LLC TRC grew its stake in Wave Life Sciences by 461.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock worth $57,000 after buying an additional 9,316 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Wave Life Sciences by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after buying an additional 8,920 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Wave Life Sciences during the 4th quarter worth $64,000. 89.73% of the stock is owned by institutional investors and hedge funds.

About Wave Life Sciences

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.