Wave Life Sciences (NASDAQ:WVE) Stock Price Expected to Rise, Truist Financial Analyst Says

Wave Life Sciences (NASDAQ:WVE) had its target price increased by investment analysts at Truist Financial from $17.00 to $36.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 129.45% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company upped their price target on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Leerink Partners boosted their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. B. Riley increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price target 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.89.

Wave Life Sciences Trading Down 1.3 %

NASDAQ:WVE opened at $15.69 on Tuesday. The company has a 50-day moving average price of $10.40 and a 200-day moving average price of $7.41. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -14.14 and a beta of -1.20. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.19). Wave Life Sciences had a negative return on equity of 694.73% and a negative net margin of 66.50%. The company had revenue of ($7.68) million during the quarter, compared to analysts’ expectations of $15.45 million. Equities analysts forecast that Wave Life Sciences will post -1.01 EPS for the current fiscal year.

Insider Activity at Wave Life Sciences

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were 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 owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Chris Francis sold 36,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $16.00, for a total value of $576,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Plc Gsk acquired 2,791,930 shares of Wave Life Sciences stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 400,822 shares of company stock valued at $5,221,768 over the last 90 days. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Wave Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Advisers LLC acquired a new stake in shares of Wave Life Sciences during the second quarter worth $12,441,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Wave Life Sciences in the 2nd quarter valued at approximately $9,086,000. Artal Group S.A. lifted its stake in 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 purchasing an additional 1,044,000 shares in the last quarter. FMR LLC lifted its holdings in Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after buying an additional 979,110 shares in the last quarter. Finally, Ikarian Capital LLC acquired a new stake in Wave Life Sciences in the 1st quarter valued at about $3,641,000. Institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Company Profile

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.