Wave Life Sciences (NASDAQ:WVE) PT Raised to $22.00 at Leerink Partners

Wave Life Sciences (NASDAQ:WVE) had its price objective upped by Leerink Partners from $20.00 to $22.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ target price points to a potential upside of 50.58% from the stock’s previous close.

A number of other equities analysts have also commented on WVE. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $13.00 to $22.00 in a research report on Wednesday. JPMorgan Chase & Co. started coverage on Wave Life Sciences in a report on Friday, September 27th. They set an “overweight” rating and a $13.00 price objective on the stock. Wells Fargo & Company lifted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho reissued an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada lifted their price objective on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.56.

Wave Life Sciences Stock Down 1.9 %

WVE stock opened at $14.61 on Wednesday. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $15.92. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -28.10 and a beta of -1.10. The business’s fifty day simple moving average is $6.90 and its two-hundred day simple moving average is $6.16.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $24.80 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. Research analysts expect that Wave Life Sciences will post -1.02 EPS for the current year.

Insider Buying and Selling

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 value of $154,314.00. Following the sale, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wave Life Sciences news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $154,314.00. Following the transaction, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors have recently added to or reduced their stakes in the business. Artal Group S.A. lifted its stake in shares of Wave Life Sciences by 34.7% during 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 period. Emerald Advisers LLC purchased a new position in Wave Life Sciences during the 2nd quarter worth approximately $12,441,000. Price T Rowe Associates Inc. MD lifted its stake in Wave Life Sciences by 14.4% during the 1st 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 during the period. Vanguard Group Inc. boosted its holdings in shares of Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Wave Life Sciences during the second quarter valued at $9,086,000. Institutional investors and hedge funds 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.