Wave Life Sciences (NASDAQ:WVE) PT Raised to $17.00 at JPMorgan Chase & Co.

Wave Life Sciences (NASDAQ:WVE) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $13.00 to $17.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.04% from the stock’s current price.

A number of other equities analysts also recently issued reports on 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. Wells Fargo & Company increased their price target on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Thursday. Finally, Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $13.00 to $22.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Wave Life Sciences Stock Up 4.8 %

WVE stock opened at $15.31 on Thursday. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $15.92. The business’s fifty day simple moving average is $7.10 and its two-hundred day simple moving average is $6.22. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (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 firm had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. During the same period in the previous year, the company posted ($0.20) EPS. Research analysts expect that Wave Life Sciences will post -1.02 EPS for the current year.

Insiders Place Their Bets

In other Wave Life Sciences news, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Wave Life Sciences news, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Bolno sold 48,366 shares of the firm’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 sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 364,822 shares of company stock valued at $4,645,768. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WVE. Ameritas Investment Partners Inc. raised its stake 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 purchasing an additional 2,451 shares during the last quarter. Profund Advisors LLC purchased a new position in shares of Wave Life Sciences in the second quarter worth about $53,000. Principal Financial Group Inc. purchased a new position in shares of Wave Life Sciences in the second quarter worth about $74,000. Mackenzie Financial Corp raised its stake in shares of Wave Life Sciences by 13.6% in the second 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 purchased a new position in shares of Wave Life Sciences in the second quarter worth about $104,000. 89.73% of the stock is currently owned by hedge funds and other 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.