In a Friday research note distributed to investors, investment analysts at the Royal Bank of Canada lowered their price objective for Wave Life Sciences (NASDAQ: WVE). The note was included in a presentation that was given to investors. The previous price goal was $8.00, but it has been revised to $5.00. At this time, the company believes that the stock will “sector perform,” and as a result, it has given the stock this rating. In addition, the Royal Bank of Canada’s target price indicates a possibility of an increase when compared to the price of the stock as it is currently trading (19.90%).
In addition, several other equity research professionals have provided their perspectives on the stock and their estimates of its current worth. For example, wave Life Sciences was included on the research list that StockNews.com manages on October 12, a Wednesday. They advised their clients to “hold” the stock moving forward. In addition, SVB Leerink reaffirmed its recommendation that shareholders of Wave Life Sciences “market perform” their investments in a research note published on Monday, October 24, regarding the company. The research note was related to the company.
On Friday, the NASDAQ: WVE stock was first offered for trading for $4.17. The company’s current market value is calculated to be 362.04 million dollars, its PE ratio is -2.12, and its beta value is 0.49. The company’s moving average price over the past 50 days is $4.03, while the moving average price over the past 200 days is $3.04. There is a possibility that the price of Wave Life Sciences will range anywhere from $1.16 to $5.31 over a single year.
The most recent earnings report for Wave Life Sciences, publicly traded and whose stock is denoted by the symbol NASDAQ: WVE, was released on August 11 of this year. The company reported earnings per share for the quarter to be $0.62, which was $0.06 less than the consensus estimate of $0.56 earnings per share for the quarter. In addition, wave Life Sciences had a net margin in the red by a percentage of -297.98% and a return on equity in the red by a percentage of 515.04%. The revenue for the quarter came in at $0.38 million, a significant decrease from the $3.25 million that analysts anticipated would be for the quarter. According to these analysts’ projections, Wave Life Sciences is anticipated by analysts who follow the stock market to incur a loss of $2.24 per share in 2018.
Important shareholders have just recently made adjustments to their existing stock holdings. Tower Research Capital LLC (TRC) increased the amount of Wave Life Sciences stock owned by 256.3% over the third quarter. Tower Research Capital LLC (TRC) now has a total of 9,217 shares of the company’s stock, worth $34,000 after purchasing an additional 6,630 shares in the company during the most recent quarter. These shares were purchased through an open market transaction. During the second quarter, Y Intercept Hong Kong Ltd. purchased an additional 3,700 shares in Wave Life Sciences for 37 thousand dollars (HKD). Prudential Financial, Inc. made a financial investment in the amount of $41,000 in Wave Life Sciences during the second quarter of 2018. During the second quarter of the fiscal year, Cubist Systematic Strategies LLC provided Wave Life Sciences with a capital contribution for $67,000.
Last but not least, BNP Paribas Arbitrage SA increased its holdings in Wave Life Sciences by a staggering 457.0% during the second quarter. This certainly should not be considered the least significant development. BNP Paribas Arbitrage SA now has a total of 20,777 shares, and the value of those shares is $68,000 after the company bought an additional 17,047 shares during the month. Institutional investors and hedge funds hold 89.28% of the total shares of the company’s stock, making up the majority of the company’s shareholders.
Wave Life Sciences Ltd., a company currently in the clinical stage of developing genetic medicine, uses PRISM, a platform for research and drug development, to design, optimize, and produce revolutionary stereo pure oligonucleotides. This helps the company stay on the cutting edge of the genetic medicine industry. It involves the production of oligonucleotides that target ribonucleic acid to change the expression of proteins, increase the production of proteins with a functional purpose, or decrease the production of proteins responsible for the disease.
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