Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Rating of “Buy” by Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned an average recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $22.22.

Several research analysts recently issued reports on the company. B. Riley lifted their target price 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. Leerink Partners lifted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, November 13th. Finally, Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th.

Wave Life Sciences Stock Performance

WVE stock opened at $12.24 on Thursday. The business has a 50-day simple moving average of $12.93 and a two-hundred day simple moving average of $10.51. The company has a market capitalization of $1.87 billion, a P/E ratio of -11.03 and a beta of -1.09. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $16.74.

Insider Activity

In other news, CEO Paul Bolno sold 51,234 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $14.32, for a total transaction of $733,670.88. Following the completion of the transaction, the chief executive officer now directly owns 217,351 shares in the company, valued at $3,112,466.32. The trade was a 19.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Francis sold 36,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 137,234 shares of company stock valued at $2,059,671 over the last quarter. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Maverick Capital Ltd. lifted its stake in Wave Life Sciences by 31.0% during the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after purchasing an additional 2,378,159 shares during the last quarter. FMR LLC lifted its position in Wave Life Sciences by 174.5% in the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after buying an additional 979,110 shares during the last quarter. RTW Investments LP purchased a new stake in Wave Life Sciences in the third quarter worth approximately $7,380,000. Maven Securities LTD bought a new position in Wave Life Sciences during the third quarter valued at approximately $6,970,000. Finally, Walleye Capital LLC bought a new stake in shares of Wave Life Sciences in the 3rd quarter worth approximately $4,940,000. 89.73% of the stock is currently 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.