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

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given a consensus rating of “Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $22.22.

WVE has been the subject of several research analyst reports. Mizuho upped their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. B. Riley increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Finally, Leerink Partners lifted their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, insider Chris Francis sold 36,000 shares of the business’s stock in a transaction dated 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 can be accessed through this hyperlink. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 436,544 shares of company stock worth $6,271,569 in the last ninety days. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 buying an additional 856 shares during the period. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences in the 2nd quarter worth approximately $53,000. Point72 DIFC Ltd purchased a new position in shares of Wave Life Sciences during the 3rd quarter worth approximately $98,000. Principal Financial Group Inc. acquired a new stake in Wave Life Sciences in the 2nd quarter valued at approximately $74,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in Wave Life Sciences in the third quarter valued at approximately $123,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Trading Up 2.2 %

NASDAQ WVE opened at $13.41 on Wednesday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -12.08 and a beta of -1.21. The stock has a 50-day moving average of $14.41 and a 200 day moving average of $9.07. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74.

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.