Wave Life Sciences (NASDAQ:WVE) Receives “Buy” Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research note released on Monday morning, Benzinga reports. They currently have a $17.00 target price on the stock.

Several other equities research analysts also recently issued reports on WVE. Leerink Partnrs upgraded Wave Life Sciences from a market perform rating to an outperform rating in a report on Tuesday, December 19th. StockNews.com lowered shares of Wave Life Sciences from a strong-buy rating to a buy rating in a research report on Thursday, January 18th. HC Wainwright upped their price objective on shares of Wave Life Sciences from $8.00 to $15.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Royal Bank of Canada reiterated a sector perform rating and issued a $5.00 price objective on shares of Wave Life Sciences in a research note on Thursday, March 7th. Finally, SVB Leerink raised Wave Life Sciences from a market perform rating to an outperform rating and upped their target price for the company from $5.00 to $12.00 in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $10.14.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $6.31 on Monday. Wave Life Sciences has a one year low of $3.15 and a one year high of $7.67. The business has a 50 day simple moving average of $5.03 and a 200 day simple moving average of $5.20. The stock has a market capitalization of $771.59 million, a P/E ratio of -11.47 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $29.06 million for the quarter, compared to the consensus estimate of $23.30 million. During the same quarter in the prior year, the firm earned ($0.47) EPS. Equities analysts expect that Wave Life Sciences will post -0.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WVE. James J. Burns & Company LLC grew its position in shares of Wave Life Sciences by 10.2% in the third quarter. James J. Burns & Company LLC now owns 33,049 shares of the company’s stock valued at $190,000 after purchasing an additional 3,049 shares in the last quarter. Wellington Management Group LLP lifted its stake in Wave Life Sciences by 1.6% in the 1st quarter. Wellington Management Group LLP now owns 244,998 shares of the company’s stock worth $1,061,000 after purchasing an additional 3,857 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Wave Life Sciences by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 169,693 shares of the company’s stock valued at $976,000 after purchasing an additional 4,555 shares during the period. Rhumbline Advisers boosted its holdings in Wave Life Sciences by 5.7% in the 3rd quarter. Rhumbline Advisers now owns 111,511 shares of the company’s stock valued at $641,000 after purchasing an additional 6,026 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Wave Life Sciences by 257.9% during the 2nd quarter. Royal Bank of Canada now owns 8,787 shares of the company’s stock valued at $32,000 after purchasing an additional 6,332 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.