Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $14.75 Average Price Target from Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $15.00.

A number of equities analysts recently commented on WVE shares. Royal Bank of Canada raised their target price on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Mizuho restated an “outperform” rating and issued a $19.00 price objective on shares of Wave Life Sciences in a report on Tuesday, June 25th. JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a report on Friday, September 27th. They set an “overweight” rating and a $13.00 target price on the stock. HC Wainwright raised their price target on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, B. Riley upped their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $8.00 on Friday. The firm has a market cap of $979.80 million, a P/E ratio of -15.38 and a beta of -1.10. The firm’s 50 day moving average price is $6.30 and its 200-day moving average price is $5.95. Wave Life Sciences has a one year low of $3.50 and a one year high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The firm had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same quarter last year, the company earned ($0.20) earnings per share. As a group, research analysts predict that Wave Life Sciences will post -1.02 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Wave Life Sciences 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, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the firm’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 transaction of $154,314.00. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of WVE. Ameritas Investment Partners Inc. lifted its stake in Wave Life Sciences by 50.2% in the first 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 last quarter. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences in the 2nd quarter valued at $53,000. Principal Financial Group Inc. acquired a new position in shares of Wave Life Sciences in the 2nd quarter valued at $74,000. Mackenzie Financial Corp boosted its stake in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Wave Life Sciences during the 2nd quarter worth $104,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.