B. Riley Raises Wave Life Sciences (NASDAQ:WVE) Price Target to $22.00

Wave Life Sciences (NASDAQ:WVE) had its price objective increased by research analysts at B. Riley from $19.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price target suggests a potential upside of 58.96% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Leerink Partners raised their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of 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. JPMorgan Chase & Co. lifted their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $19.78.

Wave Life Sciences Stock Performance

Shares of WVE opened at $13.84 on Monday. The stock has a market capitalization of $1.73 billion, a PE ratio of -24.28 and a beta of -1.20. The company’s fifty day moving average is $9.20 and its 200 day moving average is $6.97. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last posted its 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 return on equity of 1,395.99% and a negative net margin of 66.50%. 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 firm earned ($0.20) earnings per share. As a group, research analysts forecast that Wave Life Sciences will post -1.01 earnings per share for the current year.

Insider Activity

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed 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 dated Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Moran sold 17,146 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 364,822 shares of company stock valued at $4,645,768. Corporate insiders own 29.10% of the company’s stock.

Institutional Trading of Wave Life Sciences

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $37,000 after acquiring an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings 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 purchasing an additional 2,451 shares during the last quarter. Profund Advisors LLC purchased a new stake in shares of Wave Life Sciences in the second quarter worth about $53,000. Principal Financial Group Inc. acquired a new stake in Wave Life Sciences during the second quarter worth about $74,000. Finally, Mackenzie Financial Corp raised its position in Wave Life Sciences by 13.6% during 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 in the last quarter. 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.