Wave Life Sciences (NASDAQ:WVE) PT Raised to $22.00 at HC Wainwright

Wave Life Sciences (NASDAQ:WVE) had its target price boosted by HC Wainwright from $15.00 to $22.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 168.62% from the company’s current price.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. began coverage on Wave Life Sciences in a research report on Monday, September 9th. They set an “overweight” rating and a $10.00 price target on the stock. Mizuho reiterated an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. Finally, B. Riley began coverage on shares of Wave Life Sciences in a report on Thursday, September 19th. They issued a “buy” rating and a $11.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $13.38.

Wave Life Sciences Trading Up 53.4 %

NASDAQ:WVE opened at $8.19 on Wednesday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -15.75 and a beta of -1.13. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $8.35. The stock has a fifty day simple moving average of $5.87 and a 200-day simple moving average of $5.80.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly 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 company 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 prior year, the business earned ($0.20) EPS. As a group, equities research analysts predict that Wave Life Sciences will post -1.04 EPS for the current fiscal year.

Insider Transactions at Wave Life Sciences

In related news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC grew its stake in shares of Wave Life Sciences by 62.2% during the second 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 last quarter. Mackenzie Financial Corp grew its position in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Wave Life Sciences by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock valued at $698,000 after purchasing an additional 4,914 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Wave Life Sciences by 1.8% in the second quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock worth $8,305,000 after buying an additional 28,690 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Wave Life Sciences by 26.3% during the second quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock worth $167,000 after buying an additional 6,973 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.