Wave Life Sciences Ltd. (NASDAQ: WVE): To Buy Or Not To Buy, That Is The Question


    BlackRock Fund Advisors has recently announced that it has increased stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 8.41%. After grabbing 1.8 million shares, the institutional investor is now in possession of 0.14 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.03% having worth around $15.79 million. Moreover, Nantahala Capital Management LLC increased its share by 0.77 million to have a control over 1.75 million shares. And T. Rowe Price Associates, Inc. (I.. raised its holdings to 0.23 million shares by acquiring 1.32 million shares or 3.69% of the stake.

    Wave Life Sciences Ltd. (WVE) concluded trading on 08/26/20 at a closing price of $11.83, with 2.07 million shares of worth about $24.47 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 17.13% during that period and on Wednesday the price saw a loss of about -6.63%. Currently the company’s common shares owned by public are about 35.21M shares, out of which, 30.42M shares are available for trading.

    Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $21.00 and could fall to a lowest price of $8.00. Analysts also issued an outlook of 2.10 for the Wave Life Sciences Ltd. stock for next 12 months. The stock’s current price level is 29.2% above of average price target set by the analysts, while a rise to estimated low would result in loss of -47.88 for the stock. However, touching the estimated high of $21.00 would mean a gain of 43.67% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 15 times over the past 12 months. They bought 106,000 shares in 2 of the transactions. In 13 selling transactions, insiders dumped 204,595 shares.

    BB Biotech AG, PRIMECAP Odyssey Aggressive Growt, and T Rowe Price Health Sciences Fund are the top 3 mutual funds which are holding stakes in Wave Life Sciences Ltd. BB Biotech AG is currently holding 2.6 million shares of worth totaling $22.85 million. The company recently came buying 0.0 shares which brought its stake up to 7.28% of the company’s outstanding shares. PRIMECAP Odyssey Aggressive Growt bought 70866.0 shares, after which its hold over company’s outstanding shares expand to 3.30%, leaving 1.18 million shares with the mutual fund that have a worth of about $10.37 million. T Rowe Price Health Sciences Fund, after buying 0.79 million shares, have now control over 2.21% of the stake in the company. It holds 0.17 million shares of worth $6.93 million.

    Wave Life Sciences Ltd. (NASDAQ: WVE) started trading at $12.94, above $0.27 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $11.83, or with a loss of -6.63%. Stock saw a price change of 17.13% in past 5 days and over the past one month there was a price change of 35.05%. Year-to-date (YTD), WVE shares are showing a performance of 47.60% which decreased to -46.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.61 but also hit the highest price of $39.98 during that period. While comparing its average daily trading volume of 485.15K shares, we see that about 2.07 million changed hands on the day. The stock is currently trading 22.69% above its 20-day simple moving average (SMA20), while that difference is up 18.88% for SMA50 and it goes to -3.45% lower than SMA200.

    BlackRock Fund Advisors acquired 1.8 million shares of Wave Life Sciences Ltd. having value of about $15.79 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.14 million shares in the company valued at close to $1650604.41, or have control over 8.41% stake in the company. Wave Life Sciences Ltd. (NASDAQ: WVE) currently have 35.21M outstanding shares and institutions hold larger chunk of about 82.60% of that. Holding of mutual funds in the company is about 35.06% while other institutional holders and individual stake holders have control over 57.92% and 28.24% of the stake respectively.

    The stock has a current market capitalization of $420.32M and its 3Y-monthly beta is at -0.02. It has posted earnings per share of -$5.66 in the same period. It has Quick Ratio of 1.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WVE, volatility over the week remained 12.33% while standing at 6.80% over the month.

    Analysts are in expectations that Wave Life Sciences Ltd. (WVE) stock would likely to be making an EPS of -$0.71 in the current quarter, while forecast for next quarter ESPS is -$0.67 and it is -$1.7 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.04 which is -$0.48 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.48 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.90% while it is estimated to increase by 42.70% in next year.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by SVB Leerink on December 31, 2019 offering a Mkt perform rating for the stock and assigned a target price range of between $33 and $10 to it. Coverage by Guggenheim stated Wave Life Sciences Ltd. (WVE) stock as a Buy in their note to investors on November 01, 2019, suggesting a price target of $43 for the stock. On July 15, 2019, Cowen Initiated their recommendations, while on April 17, 2019, H.C. Wainwright Reiterated their ratings for the stock with a price target of $33. Stock get a Buy rating from Stifel on August 07, 2018.


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