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

Wave Life Sciences (NASDAQ:WVE) had its target price boosted by Mizuho from $19.00 to $22.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the stock. Leerink Partners boosted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial increased their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. B. Riley lifted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada upped 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 report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.22.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $14.27 on Thursday. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $16.74. The stock has a market capitalization of $2.18 billion, a PE ratio of -12.86 and a beta of -1.20. The business’s 50-day moving average is $11.57 and its 200 day moving average is $7.83.

Insiders Place Their Bets

In other news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This trade represents a 46.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Plc Gsk purchased 2,791,930 shares of Wave Life Sciences stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 403,690 shares of company stock valued at $5,675,883. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Privium Fund Management B.V. bought a new position in shares of Wave Life Sciences during the 3rd quarter valued at $400,000. Moody Aldrich Partners LLC grew its stake in shares of Wave Life Sciences by 69.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock valued at $2,485,000 after purchasing an additional 123,703 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Wave Life Sciences during the 2nd quarter valued at about $668,000. Vanguard Group Inc. increased its position in shares of Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its stake 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 worth $4,531,000 after purchasing an additional 348,300 shares during the period. Hedge funds and other 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.