Wave Life Sciences (WVE) gets upgraded by brokers

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Wave Life Sciences

In a positive turn of events for Wave Life Sciences Pte. Ltd. (NASDAQ:WVE) brokers in North America have upgraded the stock from ‘sell’ to ‘hold’. The upgrade was recommended by Zacks Investment Research.

The preclinical biopharmaceutical company managed to garner favorable ratings from a number of market analysts including Jefferies Group, Leerink Swann, JMP Securities among others. Wave Life Sciences Pte. Ltd. (NASDAQ:WVE) designs, develops, and commercialises nucleic acid therapeutic candidates for Huntington’s disease, Duchenne muscular dystrophy and inflammatory bowel disease.

In their report Jefferies Group increased their price objective on Wave Life Sciences shares from $28.00 to $42.00 and gave the stock a “buy” rating. Leerink Swann reiterated an “outperform” rating and issued a $45.00 price objective, while JMP Securities reiterated a “buy” rating as well.

A number of hedge funds have recently added to or reduced their stakes in WVE. California State Teachers Retirement System raised its stake in shares of Wave Life Sciences Pte. by 1.3 per cent in the third quarter. California State Teachers Retirement System now owns 15,709 shares of the company’s stock valued at $510,000 after buying an additional 200 shares during the period.

BlackRock Institutional Trust Company N.A. raised its stake in shares of Wave Life Sciences Pte. by 2.4 per cent in the third quarter. BlackRock Institutional Trust Company N.A. now owns 57,306 shares of the company’s stock valued at $1,861,000 after buying an additional 1,346 shares during the period.

BlackRock Advisors LLC raised its stake in shares of Wave Life Sciences Pte. by 67.6 per cent in the third quarter. BlackRock Advisors LLC now owns 4,264 shares of the company’s stock valued at $138,000 after buying an additional 1,720 shares during the period.

Bank of New York Mellon Corp raised its stake in shares of Wave Life Sciences Pte. by 14.6 per cent in the third quarter. Bank of New York Mellon Corp now owns 21,343 shares of the company’s stock valued at $693,000 after buying an additional 2,718 shares during the period.

Finally, Wells Fargo & Company MN bought a new stake in shares of Wave Life Sciences Pte. during the third quarter valued at about $136,000. Institutional investors own 59.83 per cent of the company’s stock.

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