H.C. Wainwright lifts Wave Life Sciences Ltd. [WVE] price estimate. Who else is bullish?

Wave Life Sciences Ltd. [NASDAQ: WVE] surged by $0.43 during the normal trading session on Thursday and reaching a high of $4.64 during the day while it closed the day at $2.98. The company report on August 11, 2022 that Wave Life Sciences Reports Second Quarter 2022 Financial Results and Provides Business Update.

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WVE-006 announced as investigational development candidate for AATD with CTA submissions expected in 2023; first-in-class RNA editing candidate and most advanced program currently in development using an oligonucleotide to harness an endogenous enzyme for editing.

Data for ongoing clinical programs, including WVE-004, WVE-003, and WVE-N531, expected in 2H 2022.

Wave Life Sciences Ltd. stock has also gained 23.65% of its value over the past 7 days. However, WVE stock has inclined by 102.72% in the 3 months of the year. Over the past six months meanwhile, it has gained 18.73% and lost -5.10% year-on date.

The market cap for WVE stock reached $261.70 million, with 60.52 million shares outstanding and 14.06 million shares in the current float. Compared to the average trading volume of 513.74K shares, WVE reached a trading volume of 6477279 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Wave Life Sciences Ltd. [WVE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WVE shares is $8.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WVE stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Wave Life Sciences Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 15, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on October 23, 2020, representing the official price target for Wave Life Sciences Ltd. stock. Previously, the target price had yet another drop from $33 to $10, while SVB Leerink kept a Mkt Perform rating on WVE stock.

The Average True Range (ATR) for Wave Life Sciences Ltd. is set at 0.41, with the Price to Sales ratio for WVE stock in the period of the last 12 months amounting to 6.13.

WVE stock trade performance evaluation

Wave Life Sciences Ltd. [WVE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.65. With this latest performance, WVE shares dropped by -26.60% in over the last four-week period, additionally plugging by 18.73% over the last 6 months – not to mention a drop of -47.72% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WVE stock in for the last two-week period is set at 53.88, with the RSI for the last a single of trading hit 59.09, and the three-weeks RSI is set at 53.14 for Wave Life Sciences Ltd. [WVE]. The present Moving Average for the last 50 days of trading for this stock 2.78, while it was recorded at 2.56 for the last single week of trading, and 2.75 for the last 200 days.

Wave Life Sciences Ltd. [WVE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Wave Life Sciences Ltd. [WVE] shares currently have an operating margin of -310.07. Wave Life Sciences Ltd.’s Net Margin is presently recorded at -298.42.

Return on Equity for this stock declined to -186.60, with Return on Assets sitting at -50.28.

Wave Life Sciences Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.

Wave Life Sciences Ltd. [WVE]: Insider Ownership positions

There are presently around $143 million, or 69.80% of WVE stock, in the hands of institutional investors. The top three institutional holders of WVE stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 7,775,207, which is approximately 0% of the company’s market cap and around 1.00% of the total institutional ownership; M28 CAPITAL MANAGEMENT LP, holding 5,850,000 shares of the stock with an approximate value of $17.43 million in WVE stocks shares; and MAVERICK CAPITAL LTD, currently with $16.67 million in WVE stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Wave Life Sciences Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 26 institutional holders increased their position in Wave Life Sciences Ltd. [NASDAQ:WVE] by around 5,578,122 shares. Additionally, 51 investors decreased positions by around 4,595,260 shares, while 16 investors held positions by with 37,695,574 shares. The mentioned changes placed institutional holdings at 47,868,956 shares, according to the latest SEC report filing. WVE stock had 8 new institutional investments in for a total of 117,426 shares, while 22 institutional investors sold positions of 2,683,824 shares during the same period.


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