Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Rating of “Buy” from Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.22.

Several brokerages have recently commented on WVE. Royal Bank of Canada upped their price target on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Leerink Partners increased their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial boosted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Insider Activity

In related news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 453,690 shares of company stock worth $6,425,883. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Several large investors have recently bought and sold shares of WVE. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 purchasing an additional 856 shares in the last quarter. Mackenzie Financial Corp raised 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 acquiring an additional 1,905 shares in the last quarter. Rhumbline Advisers lifted its position in Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after acquiring an additional 4,092 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Wave Life Sciences by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock valued at $698,000 after acquiring an additional 4,914 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Wave Life Sciences by 53.9% during the third quarter. US Bancorp DE now owns 18,043 shares of the company’s stock worth $148,000 after purchasing an additional 6,316 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Price Performance

Wave Life Sciences stock opened at $13.51 on Wednesday. The firm has a 50 day simple moving average of $14.32 and a 200-day simple moving average of $9.02. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -12.17 and a beta of -1.21. Wave Life Sciences has a 1-year low of $3.50 and a 1-year 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.