Wave Life Sciences (NASDAQ:WVE) Price Target Raised to $22.00

Wave Life Sciences (NASDAQ:WVE) had its target price hoisted by B. Riley from $19.00 to $22.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

WVE has been the topic of several other research reports. Leerink Partners upped their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.78.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $14.20 on Monday. The company has a 50 day moving average price of $9.37 and a two-hundred day moving average price of $7.03. The company has a market capitalization of $1.77 billion, a PE ratio of -24.91 and a beta of -1.20. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter last year, the firm earned ($0.20) EPS. On average, sell-side analysts forecast that Wave Life Sciences will post -1.01 earnings per share for the current year.

Insider Activity at Wave Life Sciences

In related news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 364,822 shares of company stock valued at $4,645,768. Corporate insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Several large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Wave Life Sciences during the second quarter valued at $53,000. Principal Financial Group Inc. bought a new position in Wave Life Sciences during the 2nd quarter valued at about $74,000. Finally, Mackenzie Financial Corp lifted its position in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the period. 89.73% of the stock is owned by institutional investors.

About Wave Life Sciences

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.