Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $22.22 Consensus PT from Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.22.

A number of brokerages have recently issued reports on WVE. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, November 13th. Mizuho boosted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Leerink Partners raised their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price 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, Truist Financial raised their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $13.51 on Wednesday. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -12.17 and a beta of -1.21. The business has a 50-day moving average of $14.32 and a 200-day moving average of $8.98.

Insider Activity

In related news, CFO Kyle Moran sold 17,146 shares of the company’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 completion of the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares in the company, 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 90 days, insiders sold 453,690 shares of company stock valued at $6,425,883. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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. Profund Advisors LLC acquired a new position in Wave Life Sciences during the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new position in Wave Life Sciences in the 2nd quarter valued at approximately $74,000. Mackenzie Financial Corp boosted its position in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Wave Life Sciences during the third quarter worth $98,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.