Wave Life Sciences (NASDAQ:WVE) PT Raised to $22.00

Wave Life Sciences (NASDAQ:WVE) had its price objective upped by Leerink Partners from $20.00 to $22.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ target price would suggest a potential upside of 50.58% from the stock’s current price.

A number of other equities analysts have also recently weighed in on WVE. JPMorgan Chase & Co. assumed coverage on shares of Wave Life Sciences in a research report on Friday, September 27th. They set an “overweight” rating and a $13.00 price objective for the company. Mizuho restated an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Wells Fargo & Company lifted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $13.00 to $22.00 in a report on Wednesday. Finally, 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 research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.56.

Wave Life Sciences Stock Performance

WVE opened at $14.61 on Wednesday. The company has a fifty day moving average of $6.90 and a two-hundred day moving average of $6.16. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $15.92. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -28.10 and a beta of -1.10.

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

Insiders Place Their Bets

In related news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction that occurred 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 directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Kyle Moran sold 17,146 shares of the company’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 transaction, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its holdings in shares of Wave Life Sciences by 50.2% in the 1st 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 period. Profund Advisors LLC purchased a new stake in Wave Life Sciences during the second quarter worth about $53,000. Principal Financial Group Inc. acquired a new stake in shares of Wave Life Sciences during the second quarter worth about $74,000. Mackenzie Financial Corp boosted its stake in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Wave Life Sciences in the second quarter valued at approximately $104,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.