Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Price Target at $14.75

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $15.00.

Several equities analysts recently issued reports on WVE shares. HC Wainwright boosted their target price on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Royal Bank of Canada increased their target price on shares of Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. began coverage on Wave Life Sciences in a research note on Friday, September 27th. They issued an “overweight” rating and a $13.00 price target for the company. B. Riley increased their price target on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Mizuho restated an “outperform” rating and issued a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th.

Insider Transactions at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction on Wednesday, September 25th. The stock was 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 directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kyle Moran sold 17,146 shares of the company’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 sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired 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 directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Several large investors have recently added to or reduced their stakes in the stock. Emerald Advisers LLC purchased a new stake in shares of Wave Life Sciences in the 2nd quarter valued at approximately $12,441,000. Emerald Mutual Fund Advisers Trust acquired a new position in Wave Life Sciences in the second quarter valued at approximately $9,086,000. Artal Group S.A. grew its position 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 acquiring an additional 1,044,000 shares during the period. Ikarian Capital LLC acquired a new stake in Wave Life Sciences during the first quarter worth $3,641,000. Finally, Vanguard Group Inc. raised its position in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Stock Performance

Shares of WVE opened at $8.00 on Friday. The business’s 50-day moving average is $6.30 and its two-hundred day moving average is $5.95. The company has a market capitalization of $979.80 million, a P/E ratio of -15.38 and a beta of -1.10. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The company had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same period last year, the business earned ($0.20) earnings per share. Analysts forecast that Wave Life Sciences will post -1.02 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.