Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Average Recommendation of “Buy” from Brokerages

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned an average rating of “Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.44.

A number of brokerages have recently issued reports on WVE. B. Riley raised their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. Leerink Partners increased their price objective 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. Royal Bank of Canada lifted their target price on shares of 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. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Thursday.

Insider Buying and Selling at Wave Life Sciences

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 364,822 shares of company stock valued at $4,645,768. 29.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares during the last quarter. Profund Advisors LLC bought a new position in shares of Wave Life Sciences in the second quarter worth approximately $53,000. Principal Financial Group Inc. purchased a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. Finally, Mackenzie Financial Corp increased its position 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 valued at $79,000 after acquiring an additional 1,905 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $13.83 on Tuesday. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -24.26 and a beta of -1.20. The business has a 50 day moving average of $8.87 and a 200 day moving average of $6.82. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $15.92.

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

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.