Leerink Partners Boosts Wave Life Sciences (NASDAQ:WVE) Price Target to $22.00

Wave Life Sciences (NASDAQ:WVE) had its price target hoisted by Leerink Partners from $20.00 to $22.00 in a research report released on Wednesday, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their price target on Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. B. Riley raised their price target on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Wave Life Sciences in a research report on Friday, September 27th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, HC Wainwright lifted their target price on shares of Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Wave Life Sciences Trading Up 4.8 %

Wave Life Sciences stock opened at $15.31 on Wednesday. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $15.92. The company has a fifty day simple moving average of $7.10 and a 200 day simple moving average of $6.22. The company has a market cap of $1.88 billion, a P/E ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the previous year, the business earned ($0.20) EPS. On average, equities research analysts forecast that Wave Life Sciences will post -1.02 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 364,822 shares of company stock worth $4,645,768 in the last quarter. 29.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth approximately $668,000. Vanguard Group Inc. lifted its stake in Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Wave Life Sciences by 62.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after purchasing an additional 348,300 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Wave Life Sciences in the 4th quarter valued at $174,000. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Wave Life Sciences by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after buying an additional 4,500 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.