Wave Life Sciences (NASDAQ:WVE) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research note published on Friday, MarketBeat Ratings reports. The firm issued an overweight rating and a $13.00 price target on the stock.

A number of other analysts also recently issued reports on the company. B. Riley began coverage on Wave Life Sciences in a research note on Thursday, September 19th. They issued a buy rating and a $11.00 target price for the company. Mizuho reaffirmed an outperform rating and issued a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Finally, HC Wainwright raised their target price on Wave Life Sciences from $15.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $13.75.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $8.29 on Friday. The stock’s fifty day moving average is $6.03 and its two-hundred day moving average is $5.85. The firm has a market capitalization of $1.02 billion, a P/E ratio of -15.94 and a beta of -1.13. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the previous year, the business posted ($0.20) EPS. On average, equities analysts forecast that Wave Life Sciences will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the sale, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction that occurred on 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 owns 359,059 shares in the company, valued at $2,075,361.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted 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 last quarter. Profund Advisors LLC purchased a new stake in Wave Life Sciences in the second quarter valued at approximately $53,000. Principal Financial Group Inc. purchased a new stake in Wave Life Sciences in the second quarter valued at approximately $74,000. Mackenzie Financial Corp lifted its stake in Wave Life Sciences by 13.6% in the second 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 during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Wave Life Sciences in the fourth quarter valued at approximately $86,000. 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.