Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Recommendation of “Buy” by Brokerages

Wave Life Sciences Ltd. (NASDAQ:WVE) has been given an average recommendation of “Buy” by the ten brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $22.22.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, November 13th. 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 note on Wednesday, October 16th. Leerink Partners boosted their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, B. Riley upped their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Insider Buying and Selling

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought 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 in the company, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul Bolno sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at $3,260,265. The trade was a 18.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 453,690 shares of company stock valued at $6,425,883. 29.10% of the stock is owned by company insiders.

Institutional Trading of Wave Life Sciences

A number of institutional investors have recently made changes to their positions in WVE. Charles Schwab Investment Management Inc. boosted its position in Wave Life Sciences by 209.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock worth $6,926,000 after acquiring an additional 571,345 shares during the last quarter. FMR LLC boosted its holdings in shares of Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after purchasing an additional 979,110 shares during the last quarter. Maven Securities LTD acquired a new position in shares of Wave Life Sciences during the 3rd quarter worth approximately $6,970,000. Privium Fund Management B.V. purchased a new stake in shares of Wave Life Sciences in the third quarter valued at approximately $400,000. Finally, Moody Aldrich Partners LLC increased its holdings in shares of Wave Life Sciences by 69.0% in the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock valued at $2,485,000 after purchasing an additional 123,703 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Price Performance

Shares of WVE opened at $14.45 on Wednesday. The firm has a market capitalization of $2.20 billion, a PE ratio of -13.02 and a beta of -1.21. The company’s fifty day moving average price is $13.90 and its 200-day moving average price is $8.81. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74.

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.