Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $17.00 by Analysts at JPMorgan Chase & Co.

Wave Life Sciences (NASDAQ:WVE) had its price objective hoisted by JPMorgan Chase & Co. from $13.00 to $17.00 in a report issued on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on WVE. Leerink Partners raised their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Thursday. Royal Bank of Canada upped their target price on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. B. Riley lifted their price target on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Mizuho restated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.56.

Wave Life Sciences Stock Up 4.8 %

WVE opened at $15.31 on Thursday. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $15.92. The business has a 50 day moving average of $7.10 and a 200-day moving average of $6.22. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -29.44 and a beta of -1.10.

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

Insider Buying and Selling

In other Wave Life Sciences news, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Paul Bolno sold 90,474 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the sale, the chief executive officer now owns 268,585 shares of the company’s stock, valued at approximately $4,028,775. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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. Insiders have sold 364,822 shares of company stock valued at $4,645,768 over the last 90 days. 29.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Ameritas Investment Partners Inc. increased its stake 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 purchasing an additional 2,451 shares during the last quarter. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth $53,000. Principal Financial Group Inc. acquired a new stake in Wave Life Sciences in the second quarter valued at about $74,000. Mackenzie Financial Corp grew its position in 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 acquiring an additional 1,905 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Wave Life Sciences during the second quarter worth about $104,000. 89.73% of the stock is currently owned by 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.