Separately, Zacks Investment Research reiterated a buy rating and issued a $13.00 price target on shares of Wave Life Sciences in a report on Saturday, May 30th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $25.50.
WVE traded down $0.12 during trading on Wednesday, hitting $9.23. 376,609 shares of the stock were exchanged, compared to its average volume of 384,890. The firm has a 50 day simple moving average of $9.30 and a 200 day simple moving average of $12.78. Wave Life Sciences has a 1 year low of $6.61 and a 1 year high of $39.98. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.36.
A number of hedge funds have recently made changes to their positions in WVE. Cubist Systematic Strategies LLC grew its stake in Wave Life Sciences by 209.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 7,422 shares of the company’s stock worth $59,000 after buying an additional 5,022 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Wave Life Sciences by 163.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,989 shares of the company’s stock worth $65,000 after buying an additional 4,336 shares during the last quarter. Wells Fargo & Company MN grew its stake in Wave Life Sciences by 18.9% during the 1st quarter. Wells Fargo & Company MN now owns 15,120 shares of the company’s stock worth $142,000 after buying an additional 2,407 shares during the last quarter. Amia Capital LLP purchased a new position in Wave Life Sciences during the 4th quarter worth $165,000. Finally, California Public Employees Retirement System purchased a new position in Wave Life Sciences during the 4th quarter worth $309,000. Hedge funds and other institutional investors own 86.22% of the company’s stock.
About Wave Life Sciences
Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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