Wave Life Sciences (NASDAQ:WVE) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $10.00 price target on the stock.

A number of other equities analysts also recently issued reports on WVE. Mizuho reissued an outperform rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Wells Fargo & Company assumed coverage on Wave Life Sciences in a research note on Wednesday, May 15th. They set an overweight rating and a $11.00 price objective for the company. Finally, HC Wainwright reiterated a buy rating and set a $15.00 price target on shares of Wave Life Sciences in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $12.71.

Wave Life Sciences Stock Performance

NASDAQ WVE opened at $5.90 on Monday. The stock has a market cap of $735.97 million, a P/E ratio of -11.35 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 $7.67. The stock has a 50 day simple moving average of $5.79 and a two-hundred day simple moving average of $5.76.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period in the previous year, the business earned ($0.20) EPS. Sell-side analysts predict that Wave Life Sciences will post -1.05 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In related news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of WVE. Ameritas Investment Partners Inc. grew its holdings in 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 buying an additional 2,451 shares in the last quarter. Oxford Asset Management LLP purchased a new position in Wave Life Sciences during the fourth quarter valued at $51,000. Profund Advisors LLC purchased a new stake in Wave Life Sciences in the 2nd quarter worth $53,000. Principal Financial Group Inc. purchased a new stake in Wave Life Sciences in the 2nd quarter worth $74,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.