Leerink Partnrs Reiterates “Market Perform” Rating for Wave Life Sciences (NASDAQ:WVE)

Posted by Defense World Staff on Aug 6th, 2023

Wave Life Sciences (NASDAQ:WVE – Get Free Report)‘s stock had its “market perform” rating restated by Leerink Partnrs in a report released on Friday, PriceTargets.com reports. Leerink Partnrs also issued estimates for Wave Life Sciences’ Q1 2024 earnings at ($0.23) EPS, Q2 2024 earnings at ($0.23) EPS, Q3 2024 earnings at ($0.23) EPS and Q4 2024 earnings at ($0.24) EPS.

Several other equities research analysts also recently weighed in on WVE. Mizuho reduced their price target on shares of Wave Life Sciences from $13.00 to $10.00 in a research report on Wednesday, May 24th. StockNews.com raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James initiated coverage on shares of Wave Life Sciences in a research report on Wednesday, July 5th. They issued an “outperform” rating and a $7.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Wave Life Sciences in a research report on Friday. Finally, Jefferies Financial Group downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $7.00 to $5.00 in a research report on Tuesday, May 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Wave Life Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Wave Life Sciences Stock Performance

WVE stock opened at $5.00 on Friday. The firm has a 50 day moving average price of $4.07 and a 200-day moving average price of $4.18. Wave Life Sciences has a 52-week low of $2.35 and a 52-week high of $7.12. The firm has a market capitalization of $492.20 million, a price-to-earnings ratio of -3.68 and a beta of -0.90.

Wave Life Sciences (NASDAQ:WVE – Get Free Report) last released its earnings results on Wednesday, May 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.33). The firm had revenue of $12.93 million for the quarter, compared to analysts’ expectations of $47.00 million. As a group, sell-side analysts forecast that Wave Life Sciences will post -1.23 earnings per share for the current fiscal year.

Institutional Trading of Wave Life Sciences

Several hedge funds have recently bought and sold shares of WVE. FMR LLC grew its holdings in Wave Life Sciences by 1,759.1% during the 2nd quarter. FMR LLC now owns 1,238,026 shares of the company’s stock valued at $4,024,000 after purchasing an additional 1,171,432 shares during the last quarter. Millennium Management LLC grew its holdings in Wave Life Sciences by 136.3% during the 4th quarter. Millennium Management LLC now owns 1,317,628 shares of the company’s stock valued at $9,223,000 after purchasing an additional 760,071 shares during the last quarter. Bank of America Corp DE grew its holdings in Wave Life Sciences by 784.4% during the 1st quarter. Bank of America Corp DE now owns 575,378 shares of the company’s stock valued at $2,491,000 after purchasing an additional 510,320 shares during the last quarter. Marshall Wace LLP bought a new position in Wave Life Sciences during the 4th quarter valued at about $2,292,000. Finally, Goldman Sachs Group Inc. grew its stake in Wave Life Sciences by 274.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 421,412 shares of the company’s stock worth $843,000 after acquiring an additional 308,966 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.

About Wave Life Sciences

(Get Free Report)

Wave Life Sciences Ltd., a clinical-stage genetic medicine company, designs, optimizes, and produces novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. It is developing oligonucleotides target ribonucleic acid (RNA) to correct disease-causing mutations, modulate protein activity, restore the production of functional proteins, or reduce the expression of disease-promoting RNAs or proteins.