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

Wave Life Sciences (NASDAQ:WVE) had its target price increased by equities research analysts at Mizuho from $19.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 54.28% from the company’s current price.

Several other equities analysts have also commented on WVE. JPMorgan Chase & Co. upped their target price on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Truist Financial upped their target price on shares of 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 increased their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Leerink Partners lifted their target price on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.22.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $14.26 on Thursday. The company’s fifty day moving average is $11.07 and its two-hundred day moving average is $7.66. 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 $2.17 billion, a price-to-earnings ratio of -12.85 and a beta of -1.20.

Insider Transactions at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. This trade represents a 46.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, 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. Insiders sold a total of 403,690 shares of company stock valued at $5,675,883 in the last three months. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Maverick Capital Ltd. grew its stake in Wave Life Sciences by 31.0% during the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock valued at $82,390,000 after acquiring an additional 2,378,159 shares in the last quarter. Artal Group S.A. increased its holdings in Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after buying an additional 1,044,000 shares during the last quarter. Emerald Advisers LLC raised its position in Wave Life Sciences by 15.6% during the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock valued at $23,628,000 after acquiring an additional 388,280 shares in the last quarter. State Street Corp lifted its stake in Wave Life Sciences by 2.6% in the third quarter. State Street Corp now owns 2,321,248 shares of the company’s stock valued at $19,034,000 after acquiring an additional 57,822 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Wave Life Sciences by 14.3% in the third quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock worth $18,615,000 after acquiring an additional 283,419 shares in the last quarter. 89.73% of the stock is 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.