Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $15.00 by Analysts at Royal Bank of Canada

Wave Life Sciences (NASDAQ:WVE) had its target price upped by Royal Bank of Canada from $7.00 to $15.00 in a report published on Monday, Benzinga reports. They currently have a sector perform rating on the stock.

WVE has been the topic of a number of other research reports. Wells Fargo & Company upped their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. B. Riley raised their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Mizuho reaffirmed an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wave Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $19.44.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $15.11 on Monday. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $15.92. The company has a market capitalization of $1.85 billion, a PE ratio of -29.06 and a beta of -1.10. The business has a 50-day moving average of $7.29 and a 200-day moving average of $6.29.

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

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 364,822 shares of company stock valued at $4,645,768 in the last three months. 29.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several hedge funds have recently modified their holdings of WVE. Mackenzie Financial Corp raised its position in 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 acquiring an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Wave Life Sciences by 50.2% in the 1st 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. Rhumbline Advisers raised its holdings in shares of Wave Life Sciences by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after purchasing an additional 4,092 shares in the last quarter. Swiss National Bank lifted its stake in Wave Life Sciences by 2.7% during the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Capstone Investment Advisors LLC boosted its holdings in Wave Life Sciences by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after buying an additional 4,500 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.