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

Wave Life Sciences (NASDAQ:WVE) had its price target upped by investment analysts at Wells Fargo & Company from $11.00 to $22.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 50.58% from the company’s current price.

Several other equities research analysts also recently issued reports on WVE. JPMorgan Chase & Co. began coverage on Wave Life Sciences in a research report on Friday, September 27th. They set an “overweight” rating and a $13.00 target price on the stock. Mizuho restated an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. B. Riley lifted their target price on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $13.00 to $22.00 in a report on Wednesday. Finally, HC Wainwright boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.56.

Wave Life Sciences Stock Down 1.9 %

NASDAQ WVE opened at $14.61 on Wednesday. The company has a market cap of $1.79 billion, a PE ratio of -28.10 and a beta of -1.10. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $15.92. The firm’s 50-day simple moving average is $6.90 and its two-hundred day simple moving average is $6.16.

Wave Life Sciences (NASDAQ:WVE) last announced 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). The business had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the previous year, the company posted ($0.20) earnings per share. As a group, equities research analysts anticipate that Wave Life Sciences will post -1.02 EPS for the current year.

Insider Activity at Wave Life Sciences

In other news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was 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 approximately $2,075,361.02. 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 this link. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction that occurred 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 acquisition, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 29.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds have recently made changes to their positions in WVE. Ameritas Investment Partners Inc. increased its holdings in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares during the period. Profund Advisors LLC bought a new position in Wave Life Sciences during the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new position in Wave Life Sciences during the 2nd quarter worth approximately $74,000. Mackenzie Financial Corp increased its stake in 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 period. Finally, Hsbc Holdings PLC bought a new stake in Wave Life Sciences in the second quarter valued at approximately $104,000. 89.73% of the stock is currently owned by institutional investors.

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.