Wave Life Sciences (NASDAQ:WVE) Stock Price Expected to Rise, Mizuho Analyst Says

Wave Life Sciences (NASDAQ:WVE) had its target price boosted by research analysts at Mizuho from $19.00 to $22.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 54.28% from the stock’s previous close.

Several other equities analysts have also recently commented on WVE. B. Riley raised their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Wells Fargo & Company raised their target price 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, October 16th. Royal Bank of Canada upped their price target on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Finally, Leerink Partners raised their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.22.

Wave Life Sciences Stock Up 0.4 %

NASDAQ:WVE opened at $14.26 on Thursday. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74. The stock’s fifty day moving average is $11.07 and its two-hundred day moving average is $7.66. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -12.85 and a beta of -1.20.

Insider Buying and Selling

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 403,690 shares of company stock valued at $5,675,883. 29.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted 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 acquiring an additional 856 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after buying an additional 4,092 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after acquiring an additional 4,100 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.