Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Recommendation of “Buy” from Brokerages

Wave Life Sciences Ltd. (NASDAQ:WVE) has received a consensus rating of “Buy” from the ten research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.22.

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. B. Riley lifted their target price 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. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their target price on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $14.27 on Friday. The firm’s 50-day moving average is $11.40 and its two-hundred day moving average is $7.75. The company has a market capitalization of $2.18 billion, a PE ratio of -12.86 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.

Insiders Place Their Bets

In related news, CEO Paul Bolno sold 90,474 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares of the company’s stock, valued at approximately $4,028,775. This trade represents a 25.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Francis sold 36,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $16.00, for a total value of $576,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 403,690 shares of company stock valued at $5,675,883 in the last quarter. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares in the last quarter. Mackenzie Financial Corp grew its position in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after buying an additional 2,451 shares during the period. Rhumbline Advisers raised its position in shares of Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after buying an additional 4,092 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Wave Life Sciences by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after acquiring an additional 4,914 shares during the period. Institutional investors own 89.73% of the company’s stock.

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.