Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $22.60

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.60.

WVE has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, March 5th. Truist Financial raised their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group assumed coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Mizuho raised their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st.

Wave Life Sciences Stock Performance

WVE opened at $9.40 on Monday. The stock’s 50 day moving average price is $11.44 and its 200-day moving average price is $11.28. Wave Life Sciences has a one year low of $4.25 and a one year high of $16.74. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -8.47 and a beta of -1.04.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The company had revenue of $83.75 million for the quarter, compared to the consensus estimate of $25.60 million. As a group, analysts predict that Wave Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul Bolno sold 169,025 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This represents a 33.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 29.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in Wave Life Sciences during the 4th quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares during the last quarter. Quarry LP acquired a new position in shares of Wave Life Sciences during the fourth quarter valued at about $62,000. KBC Group NV acquired a new position in shares of Wave Life Sciences during the fourth quarter valued at about $67,000. Finally, Summit Investment Advisors Inc. raised its position in shares of Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after purchasing an additional 2,308 shares during the last quarter. Hedge funds and other 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.