Wave Life Sciences (WVE) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Wave Life Sciences (NASDAQ:WVE) from a hold rating to a sell rating in a research note issued to investors on Saturday.

According to Zacks, “WAVE Life Sciences Pte. Ltd. is a preclinical biopharmaceutical company. It designs, develops and commercializes nucleic acid therapeutic candidates for Huntington’s disease, Duchenne muscular dystrophy and inflammatory bowel disease. Huntington’s disease, the Company has programs targeting HTT SNP-1 and HTT SNP-2; DMD, targeting Exon 51 and in IBD, it is targeting SMAD7. The Company has late-stage discovery programs in epidermolysis bullosa simplex, in which it is targeting KRT14 SNP-1 and KRT14 SNP-2 and in DMD, it is focused on an additional DMD target, Activin Receptor type IIb. WAVE Life Sciences Pte. Ltd. is based in Singapore. “

A number of other research firms have also recently commented on WVE. TheStreet upgraded shares of Wave Life Sciences from a d+ rating to a c- rating in a research note on Friday, January 5th. BidaskClub cut shares of Wave Life Sciences from a hold rating to a sell rating in a research note on Saturday, October 28th. Mizuho set a $34.00 target price on shares of Wave Life Sciences and gave the stock a buy rating in a research note on Saturday, October 21st. Finally, Leerink Swann restated an outperform rating and set a $53.00 price objective (up from $42.00) on shares of Wave Life Sciences in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $41.60.

Wave Life Sciences (NASDAQ WVE) traded down $0.80 during mid-day trading on Friday, reaching $36.55. 210,157 shares of the company were exchanged, compared to its average volume of 155,446. The company has a quick ratio of 11.50, a current ratio of 11.50 and a debt-to-equity ratio of 0.01. Wave Life Sciences has a one year low of $15.15 and a one year high of $39.70.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, November 9th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.03. The company had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.77 million. Wave Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. equities research analysts forecast that Wave Life Sciences will post -3.76 EPS for the current fiscal year.

In other Wave Life Sciences news, insider Chandra Vargeese sold 1,500 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $35.00, for a total transaction of $52,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ra Capital Management, Llc acquired 423,398 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $23.34 per share, with a total value of $9,882,109.32. The disclosure for this purchase can be found here. Insiders own 53.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Nationwide Fund Advisors increased its holdings in shares of Wave Life Sciences by 58.1% during the 2nd quarter. Nationwide Fund Advisors now owns 6,720 shares of the company’s stock valued at $125,000 after purchasing an additional 2,470 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Wave Life Sciences by 71.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock valued at $175,000 after purchasing an additional 3,912 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Wave Life Sciences by 62.3% during the 2nd quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock valued at $233,000 after purchasing an additional 4,800 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Wave Life Sciences by 64.9% during the 2nd quarter. New York State Common Retirement Fund now owns 12,700 shares of the company’s stock valued at $236,000 after purchasing an additional 4,999 shares in the last quarter. Finally, Alliancebernstein L.P. purchased a new position in shares of Wave Life Sciences during the 2nd quarter valued at approximately $236,000. 73.74% of the stock is owned by hedge funds and other institutional investors.

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About Wave Life Sciences

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.

Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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