Wave Life Sciences (NASDAQ:WVE) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report issued on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $26.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. B. Riley raised their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Mizuho boosted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Finally, Truist Financial lifted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $22.60.

Wave Life Sciences Price Performance

WVE stock opened at $10.36 on Tuesday. The stock has a market capitalization of $1.58 billion, a P/E ratio of -9.33 and a beta of -1.09. Wave Life Sciences has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The business has a 50-day moving average of $11.90 and a 200-day moving average of $11.02.

Hedge Funds Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. lifted its position in shares of Wave Life Sciences by 14.7% in the fourth quarter. Polar Asset Management Partners Inc. now owns 557,323 shares of the company’s stock valued at $6,894,000 after buying an additional 71,300 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Wave Life Sciences in the 4th quarter valued at $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Wave Life Sciences by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,238 shares of the company’s stock valued at $2,044,000 after purchasing an additional 20,520 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Wave Life Sciences during the 4th quarter valued at $10,463,000. Finally, Velan Capital Investment Management LP bought a new position in Wave Life Sciences during the fourth quarter worth $161,000. 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.