Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $15.00 by Analysts at Royal Bank of Canada

Wave Life Sciences (NASDAQ:WVE) had its target price hoisted by Royal Bank of Canada from $7.00 to $15.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 1.15% from the company’s previous close.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Leerink Partners lifted their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Thursday, October 17th. Finally, B. Riley lifted their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.44.

Wave Life Sciences Stock Performance

WVE stock opened at $14.83 on Monday. The stock has a market capitalization of $1.82 billion, a P/E ratio of -28.52 and a beta of -1.10. Wave Life Sciences has a one year low of $3.50 and a one year high of $15.92. The company has a 50 day moving average price of $7.48 and a two-hundred day moving average price of $6.35.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $19.69 million during 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 period in the previous year, the firm posted ($0.20) earnings per share. Research analysts forecast that Wave Life Sciences will post -1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Chris Francis sold 208,836 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 364,822 shares of company stock worth $4,645,768 in the last quarter. 29.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors have recently modified their holdings of WVE. Emerald Advisers LLC bought a new stake in shares of Wave Life Sciences during the 2nd quarter valued at about $12,441,000. Emerald Mutual Fund Advisers Trust acquired a new position in Wave Life Sciences during the 2nd quarter valued at about $9,086,000. Artal Group S.A. boosted its stake in Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after purchasing an additional 1,044,000 shares during the period. Ikarian Capital LLC acquired a new position in Wave Life Sciences during the 1st quarter valued at about $3,641,000. Finally, Vanguard Group Inc. boosted its stake in Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares during the period. Institutional investors own 89.73% of the company’s stock.

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.