Wave Life Sciences (NASDAQ:WVE) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $22.00 price target on the stock. HC Wainwright also issued estimates for Wave Life Sciences’ FY2028 earnings at $1.27 EPS.

Several other equities analysts have also recently commented on the company. Leerink Partners increased their target price on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Truist Financial raised their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.89.

Wave Life Sciences Trading Down 8.9 %

Wave Life Sciences stock opened at $13.67 on Wednesday. The stock has a market cap of $2.08 billion, a P/E ratio of -12.32 and a beta of -1.20. The stock has a 50 day moving average of $10.76 and a 200-day moving average of $7.54. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 11.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Moran sold 17,146 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. This represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 452,056 shares of company stock valued at $5,955,438 over the last three months. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WVE. Privium Fund Management B.V. bought a new position in Wave Life Sciences during the third quarter valued at about $400,000. Moody Aldrich Partners LLC boosted its stake in Wave Life Sciences by 69.0% during the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock valued at $2,485,000 after buying an additional 123,703 shares in the last quarter. SG Americas Securities LLC bought a new position in Wave Life Sciences during the second quarter valued at about $668,000. Vanguard Group Inc. boosted its stake in Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after buying an additional 521,665 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its position in shares of Wave Life Sciences by 62.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after purchasing an additional 348,300 shares during the period. 89.73% of the stock is owned by institutional investors and hedge funds.

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.