Jefferies Financial Group Lowers Wave Life Sciences (NASDAQ:WVE) to Hold

Jefferies Financial Group lowered shares of Wave Life Sciences (NASDAQ:WVE – Get Rating) from a buy rating to a hold rating in a report issued on Tuesday, The Fly reports. Jefferies Financial Group currently has $5.00 price target on the stock, down from their prior price target of $7.00.

A number of other research firms have also issued reports on WVE. StockNews.com initiated coverage on shares of Wave Life Sciences in a research note on Thursday, May 18th. They set a buy rating on the stock. HC Wainwright reissued a buy rating and set a $8.00 price target on shares of Wave Life Sciences in a research report on Thursday, March 23rd. Finally, Mizuho reissued a buy rating and set a $13.00 price target on shares of Wave Life Sciences in a research report on Friday, April 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Wave Life Sciences presently has a consensus rating of Moderate Buy and a consensus price target of $7.00.

Wave Life Sciences Price Performance

Wave Life Sciences stock opened at $3.76 on Tuesday. Wave Life Sciences has a 12-month low of $1.25 and a 12-month high of $7.12. The stock has a market capitalization of $369.87 million, a P/E ratio of -2.11 and a beta of -0.90. The firm’s 50-day moving average is $4.07 and its two-hundred day moving average is $4.51.

Wave Life Sciences (NASDAQ:WVE – Get Rating) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.05). Wave Life Sciences had a negative net margin of 1,021.14% and a negative return on equity of 1,038.84%. The business had revenue of $1.24 million during the quarter, compared to analysts’ expectations of $2.35 million. As a group, analysts forecast that Wave Life Sciences will post -1.33 EPS for the current year.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in Wave Life Sciences in the third quarter worth about $3,733,000. Matisse Capital bought a new stake in Wave Life Sciences in the fourth quarter worth about $85,000. DekaBank Deutsche Girozentrale bought a new stake in Wave Life Sciences in the fourth quarter worth about $237,000. Tower Research Capital LLC TRC raised its position in Wave Life Sciences by 256.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock worth $34,000 after acquiring an additional 6,630 shares in the last quarter. Finally, Platinum Investment Management Ltd. raised its position in Wave Life Sciences by 32.4% in the first quarter. Platinum Investment Management Ltd. now owns 455,331 shares of the company’s stock worth $1,972,000 after acquiring an additional 111,376 shares in the last quarter. 77.18% of the stock is currently owned by institutional investors.

About Wave Life Sciences

(Get Rating)

Wave Life Sciences Ltd. is a clinical-stage genetic medicines company, which engages in the development of proprietary synthetic chemistry drug. It focuses on the design, optimization, and production of novel stereopure oligonucleotides. The company was founded by Gregory L. Verdine and Takeshi Wada on July 23, 2012 and is headquartered in Singapore.