Zacks Investment Research downgraded shares of Wave Life Sciences (NASDAQ:WVE) from a hold rating to a sell rating in a research report report published 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. “
Get Wave Life Sciences alerts:A number of other brokerages have also recently weighed in on WVE. BidaskClub raised shares of Wave Life Sciences from a hold rating to a buy rating in a report on Tuesday, December 4th. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the stock a buy rating in a report on Thursday, December 6th. HC Wainwright set a $49.00 target price on shares of Wave Life Sciences and gave the stock a buy rating in a report on Monday, December 10th. ValuEngine raised shares of Wave Life Sciences from a hold rating to a buy rating in a report on Tuesday, March 5th. Finally, Leerink Swann assumed coverage on shares of Wave Life Sciences in a report on Tuesday, November 27th. They issued an outperform rating and a $61.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company. Wave Life Sciences currently has a consensus rating of Buy and a consensus price target of $57.75.
Shares of NASDAQ:WVE opened at $47.91 on Friday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -9.47 and a beta of 0.82. Wave Life Sciences has a 1-year low of $32.25 and a 1-year high of $56.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.85 and a current ratio of 1.85.
In related news, insider Michael A. Panzara sold 7,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $48.00, for a total value of $336,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, Llc acquired 263,158 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The stock was purchased at an average cost 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.
A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Wave Life Sciences by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 193,595 shares of the company’s stock valued at $8,138,000 after buying an additional 15,664 shares during the period. Legal & General Group Plc increased its stake in Wave Life Sciences by 17.9% during the 4th quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after buying an additional 469 shares during the period. Wexford Capital LP acquired a new position in Wave Life Sciences during the 4th quarter valued at about $430,000. Amundi Pioneer Asset Management Inc. increased its stake in Wave Life Sciences by 45.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $122,000 after buying an additional 900 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its stake in Wave Life Sciences by 14.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 125,291 shares of the company’s stock valued at $5,268,000 after buying an additional 16,177 shares during the period. 82.24% of the stock is currently owned by hedge funds and other institutional investors.
Wave Life Sciences Company Profile
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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