Wave Life Sciences (NASDAQ:WVE) Stock Price Expected to Rise, Mizuho Analyst Says

Wave Life Sciences (NASDAQ:WVE) had its target price increased by Mizuho from $19.00 to $22.00 in a report published on Thursday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other analysts have also issued reports on WVE. JPMorgan Chase & Co. raised their price target on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, November 13th. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Truist Financial lifted their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, B. Riley boosted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.22.

Wave Life Sciences Trading Down 0.6 %

Shares of NASDAQ:WVE opened at $14.27 on Thursday. The stock’s 50-day moving average price is $11.57 and its two-hundred day moving average price is $7.81. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $16.74. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -12.86 and a beta of -1.20.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kyle Moran sold 17,146 shares of the business’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 completion of 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 disclosure for this sale can be found here. Insiders have sold 403,690 shares of company stock worth $5,675,883 in the last three months. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Privium Fund Management B.V. bought a new position in Wave Life Sciences during the 3rd quarter worth $400,000. Moody Aldrich Partners LLC grew its stake in Wave Life Sciences by 69.0% during the 3rd quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock worth $2,485,000 after buying an additional 123,703 shares during the last quarter. SG Americas Securities LLC bought a new position in Wave Life Sciences during the 2nd quarter worth $668,000. Vanguard Group Inc. grew 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 worth $11,316,000 after buying an additional 521,665 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its position in Wave Life Sciences by 62.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after acquiring an additional 348,300 shares during the period. 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.