Wave Life Sciences (WVE) Downgraded by BidaskClub

Wave Life Sciences (NASDAQ:WVE) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other brokerages have also commented on WVE. ValuEngine upgraded Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research report on Monday. Mizuho set a $65.00 price target on Wave Life Sciences and gave the stock a “buy” rating in a research report on Thursday, December 6th. HC Wainwright set a $49.00 price target on Wave Life Sciences and gave the stock a “buy” rating in a research report on Monday, December 10th. Zacks Investment Research lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Finally, Leerink Swann assumed coverage on Wave Life Sciences in a research report on Tuesday, November 27th. They set an “outperform” rating and a $61.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $57.75.

Shares of Wave Life Sciences stock opened at $45.89 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $1.62 billion, a PE ratio of -9.07 and a beta of 0.86. Wave Life Sciences has a 12 month low of $32.25 and a 12 month high of $56.00.

In related news, insider Michael A. Panzara sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $48.00, for a total transaction of $336,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ra Capital Management, Llc purchased 263,158 shares of Wave Life Sciences stock in a transaction that occurred on Thursday, January 24th. The shares were bought at an average price of $38.00 per share, for a total transaction of $10,000,004.00. The disclosure for this purchase can be found here. 44.20% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of WVE. BlackRock Inc. grew its position in shares of Wave Life Sciences by 27.8% in the 4th quarter. BlackRock Inc. now owns 1,552,595 shares of the company’s stock worth $65,273,000 after buying an additional 337,752 shares during the last quarter. BB Biotech AG grew its position in shares of Wave Life Sciences by 21.7% in the 3rd quarter. BB Biotech AG now owns 1,385,002 shares of the company’s stock worth $69,250,000 after buying an additional 247,117 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Wave Life Sciences by 14.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 400,000 shares of the company’s stock worth $20,000,000 after buying an additional 50,000 shares during the last quarter. Redmile Group LLC grew its position in shares of Wave Life Sciences by 1.3% in the 3rd quarter. Redmile Group LLC now owns 2,273,307 shares of the company’s stock worth $113,665,000 after buying an additional 28,800 shares during the last quarter. Finally, Vanguard Group Inc grew its position in shares of Wave Life Sciences by 5.7% in the 3rd quarter. Vanguard Group Inc now owns 309,765 shares of the company’s stock worth $15,488,000 after buying an additional 16,794 shares during the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily 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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