Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Recommendation of “Buy” by Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE) has received an average recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $22.22.

Several analysts recently commented on WVE shares. Truist Financial raised their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Mizuho lifted their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Leerink Partners increased their price target on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, 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 research report on Monday, November 4th.

Wave Life Sciences Stock Down 7.7 %

NASDAQ:WVE opened at $11.54 on Friday. The firm has a 50 day moving average of $14.03 and a 200 day moving average of $9.70. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -10.40 and a beta of -1.07. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 217,351 shares in the company, valued at approximately $3,260,265. This represents a 18.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Francis sold 208,836 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold a total of 436,544 shares of company stock valued at $6,271,569 over the last quarter. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of large investors have recently added to or reduced their stakes in the business. Maverick Capital Ltd. lifted its stake in shares of Wave Life Sciences by 31.0% in the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock valued at $82,390,000 after purchasing an additional 2,378,159 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of Wave Life Sciences by 15.6% during the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock worth $23,628,000 after purchasing an additional 388,280 shares in the last quarter. State Street Corp boosted its holdings in Wave Life Sciences by 2.6% in the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock worth $19,034,000 after acquiring an additional 57,822 shares during the period. Geode Capital Management LLC increased its stake in Wave Life Sciences by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock worth $18,615,000 after buying an additional 283,419 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Wave Life Sciences by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after buying an additional 302,528 shares during the last quarter. 89.73% of the stock is 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.