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

Wave Life Sciences Ltd. (NASDAQ:WVE) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $22.22.

Several research analysts have commented on WVE shares. StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Mizuho boosted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. B. Riley boosted their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, November 13th.

Insider Activity at Wave Life Sciences

In other news, insider Chris Francis sold 36,000 shares of the company’s stock in a transaction on 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 document filed with the SEC, which is available through this link. Also, CEO Paul Bolno sold 51,234 shares of Wave Life Sciences stock in a transaction on Friday, November 15th. The stock was sold at an average price of $14.32, for a total transaction of $733,670.88. Following the transaction, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at $3,112,466.32. This represents a 19.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,234 shares of company stock worth $2,059,671 in the last quarter. 29.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after buying an additional 856 shares in the last quarter. KBC Group NV bought a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $67,000. Point72 DIFC Ltd acquired a new position in shares of Wave Life Sciences during the third quarter worth approximately $98,000. Orion Portfolio Solutions LLC bought a new position in shares of Wave Life Sciences in the 3rd quarter worth $123,000. Finally, XTX Topco Ltd acquired a new stake in Wave Life Sciences in the 3rd quarter valued at $126,000. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Price Performance

Shares of NASDAQ:WVE opened at $12.24 on Thursday. The business’s 50 day simple moving average is $12.93 and its 200 day simple moving average is $10.51. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $16.74. The company has a market capitalization of $1.87 billion, a P/E ratio of -11.03 and a beta of -1.09.

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.