Wave Life Sciences (NASDAQ:WVE) Price Target Raised to $19.00

Wave Life Sciences (NASDAQ:WVE) had its price target boosted by B. Riley from $11.00 to $19.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

WVE has been the topic of several other reports. JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a research report on Friday, September 27th. They issued an overweight rating and a $13.00 target price on the stock. HC Wainwright boosted their price target on Wave Life Sciences from $15.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, September 25th. Finally, Mizuho reiterated an outperform rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $15.00.

Wave Life Sciences Price Performance

Shares of WVE opened at $8.41 on Thursday. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $9.92. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -16.17 and a beta of -1.10. The firm has a 50 day simple moving average of $6.25 and a 200-day simple moving average of $5.92.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. During the same period in the previous year, the company posted ($0.20) EPS. On average, equities analysts expect that Wave Life Sciences will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction dated 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 in the company, valued at $177,993. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Kyle Moran sold 17,146 shares of the firm’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 transaction, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the transaction, the chief executive officer now directly owns 359,059 shares in the company, valued at $2,075,361.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently bought and sold shares of WVE. Ameritas Investment Partners Inc. raised its holdings in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Wave Life Sciences during the 2nd quarter valued at about $53,000. Principal Financial Group Inc. acquired a new position in shares of Wave Life Sciences in the 2nd quarter worth approximately $74,000. Mackenzie Financial Corp grew its holdings in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Wave Life Sciences during the second quarter worth approximately $104,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.