Wave Life Sciences (NASDAQ:WVE) Price Target Raised to $7.00 at Royal Bank of Canada

Wave Life Sciences (NASDAQ:WVE) had its price target increased by stock analysts at Royal Bank of Canada from $5.00 to $7.00 in a report released on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 17.45% from the stock’s previous close.

Several other research analysts have also weighed in on WVE. B. Riley increased their price objective on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho restated an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. HC Wainwright raised their price objective on Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. began coverage on Wave Life Sciences in a report on Friday, September 27th. They set an “overweight” rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Wave Life Sciences Stock Performance

NASDAQ WVE traded down $0.02 during mid-day trading on Friday, reaching $8.48. 135,268 shares of the stock were exchanged, compared to its average volume of 987,730. The business’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $5.90. The stock has a market capitalization of $1.06 billion, a PE ratio of -16.31 and a beta of -1.10. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The business had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. On average, analysts anticipate that Wave Life Sciences will post -1.04 EPS for the current year.

Insider Activity at Wave Life Sciences

In other news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its position in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new position in Wave Life Sciences in the second quarter worth $53,000. Principal Financial Group Inc. bought a new stake in Wave Life Sciences during the second quarter valued at $74,000. Mackenzie Financial Corp raised its holdings in shares of Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Wave Life Sciences in the 2nd quarter worth about $104,000. Institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.