HC Wainwright Reiterates “Buy” Rating for Wave Life Sciences (NASDAQ:WVE)

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 95.90% from the stock’s current price.

Several other brokerages have also recently issued reports on WVE. Jefferies Financial Group began coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective on the stock. Truist Financial increased their price target 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. Mizuho raised their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Price Performance

Wave Life Sciences stock opened at $11.23 on Wednesday. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -10.12 and a beta of -1.09. The firm has a 50-day moving average of $11.63 and a two-hundred day moving average of $11.19. Wave Life Sciences has a 1 year low of $4.25 and a 1 year high of $16.74.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after purchasing an additional 856 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Wave Life Sciences by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock worth $180,000 after acquiring an additional 2,073 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Wave Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after acquiring an additional 2,308 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at approximately $40,000. Finally, Kraematon Investment Advisors Inc. grew its position in Wave Life Sciences by 24.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock worth $246,000 after purchasing an additional 3,885 shares during the last quarter. 89.73% of the stock is currently 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.