Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $12.29

Wave Life Sciences Ltd. (NASDAQ:WVE) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $12.29.

A number of research firms have recently commented on WVE. Mizuho reiterated an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday, June 25th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. Truist Financial reaffirmed a “buy” rating and set a $17.00 price target on shares of Wave Life Sciences in a report on Monday, April 1st. StockNews.com lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $5.00 target price on shares of Wave Life Sciences in a research note on Thursday, March 7th.

Insider Buying and Selling

In other news, CFO Kyle Moran sold 15,630 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the completion of the sale, the chief financial officer now directly owns 33,921 shares in the company, valued at approximately $209,292.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 31.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wave Life Sciences

Large investors have recently added to or reduced their stakes in the company. Artal Group S.A. raised its position in shares of Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after purchasing an additional 1,044,000 shares during the period. Ikarian Capital LLC purchased a new stake in Wave Life Sciences in the 1st quarter worth $3,641,000. Jacobs Levy Equity Management Inc. raised its holdings in Wave Life Sciences by 13.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 241,860 shares of the company’s stock valued at $1,492,000 after acquiring an additional 29,483 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Wave Life Sciences by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after acquiring an additional 233,891 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in shares of Wave Life Sciences in the first quarter worth about $1,768,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Price Performance

Shares of WVE opened at $4.99 on Wednesday. The stock has a market cap of $611.15 million, a P/E ratio of -9.60 and a beta of -1.03. The business’s 50 day moving average price is $5.72 and its 200-day moving average price is $5.32. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $25.67 million. During the same period in the previous year, the firm earned ($0.27) EPS. On average, equities analysts anticipate that Wave Life Sciences will post -0.85 EPS for the current year.

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.