BidaskClub downgraded shares of Wave Life Sciences (NASDAQ:WVE) from a buy rating to a hold rating in a research note published on Thursday morning.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Wave Life Sciences from a sell rating to a hold rating in a research report on Thursday, October 12th. Mizuho set a $34.00 price target on Wave Life Sciences and gave the stock a buy rating in a research report on Saturday, October 21st. Leerink Swann reiterated an outperform rating and set a $53.00 price target (up from $42.00) on shares of Wave Life Sciences in a research report on Wednesday, November 15th. Finally, TheStreet upgraded Wave Life Sciences from a d+ rating to a c- rating in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Wave Life Sciences presently has an average rating of Hold and a consensus target price of $41.60.
Wave Life Sciences (WVE) traded down $1.38 during trading on Thursday, hitting $38.82. The stock had a trading volume of 50,283 shares, compared to its average volume of 142,863. Wave Life Sciences has a 1-year low of $15.15 and a 1-year high of $42.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.50 and a quick ratio of 11.50.
In other Wave Life Sciences news, insider Chandra Vargeese sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $35.00, for a total transaction of $52,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ra Capital Management, Llc acquired 423,398 shares of the stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $23.34 per share, for a total transaction of $9,882,109.32. The disclosure for this purchase can be found here. 53.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. boosted its stake in Wave Life Sciences by 31.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 74,421 shares of the company’s stock worth $2,613,000 after buying an additional 17,884 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Wave Life Sciences in the 3rd quarter valued at $13,679,000. Granite Point Capital Management L.P. acquired a new position in shares of Wave Life Sciences in the 3rd quarter valued at $653,000. JPMorgan Chase & Co. acquired a new position in shares of Wave Life Sciences in the 3rd quarter valued at $2,634,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Wave Life Sciences by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 49,693 shares of the company’s stock valued at $1,081,000 after purchasing an additional 2,589 shares during the last quarter. 73.80% of the stock is currently owned by 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.
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