WAVE Life Sciences Ltd. (WVE) Stock Price Up 2%
WAVE Life Sciences Ltd. (NASDAQ:WVE) shares rose 2% during trading on Monday . The stock traded as high as $24.95 and last traded at $22.80. Approximately 61,800 shares traded hands during trading, a decline of 35% from the average daily volume of 94,884 shares. The stock had previously closed at $22.35.
WVE has been the topic of several research reports. Zacks Investment Research downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective (down from $42.00) on shares of WAVE Life Sciences in a report on Thursday, August 10th. Mizuho set a $34.00 price objective on WAVE Life Sciences and gave the stock a “buy” rating in a report on Friday, August 18th. Finally, BidaskClub upgraded WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.75.
The company has a debt-to-equity ratio of 0.01, a current ratio of 11.50 and a quick ratio of 11.50.
WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.03. WAVE Life Sciences had a negative return on equity of 59.52% and a negative net margin of 3,338.68%. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.77 million. research analysts predict that WAVE Life Sciences Ltd. will post -3.75 earnings per share for the current fiscal year.
In other news, Director Masaharu Tanaka sold 20,747 shares of WAVE Life Sciences stock in a transaction on Monday, September 18th. The stock was sold at an average price of $24.21, for a total value of $502,284.87. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 53.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Redmile Group LLC grew its stake in WAVE Life Sciences by 75.0% during the 2nd quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock worth $41,374,000 after buying an additional 953,310 shares during the last quarter. Vanguard Group Inc. grew its stake in WAVE Life Sciences by 40.3% during the 2nd quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock worth $4,012,000 after buying an additional 61,910 shares during the last quarter. Northern Trust Corp grew its stake in WAVE Life Sciences by 66.3% during the 2nd quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock worth $3,085,000 after buying an additional 66,120 shares during the last quarter. State Street Corp grew its stake in WAVE Life Sciences by 26.6% during the 2nd quarter. State Street Corp now owns 151,241 shares of the company’s stock worth $2,815,000 after buying an additional 31,743 shares during the last quarter. Finally, Sabby Management LLC purchased a new position in WAVE Life Sciences during the 2nd quarter worth $2,636,000. Hedge funds and other institutional investors own 69.53% of the company’s stock.
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WAVE Life Sciences Company Profile
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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