Wave Life Sciences (NASDAQ:WVE) Price Target Raised to $36.00

Wave Life Sciences (NASDAQ:WVE) had its target price boosted by Truist Financial from $17.00 to $36.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased 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. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, October 21st. Finally, B. Riley boosted their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $15.00 on Tuesday. The company has a fifty day moving average of $10.40 and a two-hundred day moving average of $7.41. The company has a market capitalization of $1.87 billion, a PE ratio of -13.54 and a beta of -1.20. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). The firm had revenue of ($7.68) million during the quarter, compared to analyst estimates of $15.45 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 694.73%. On average, research analysts expect that Wave Life Sciences will post -1.01 earnings per share for the current year.

Insider Buying and Selling at Wave Life Sciences

In related news, insider Chris Francis sold 36,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Paul Bolno sold 90,474 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the transaction, the chief executive officer now directly owns 268,585 shares of the company’s stock, valued at $4,028,775. The trade was a 25.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 400,822 shares of company stock valued at $5,221,768. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank lifted its holdings in Wave Life Sciences by 2.7% in the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Wave Life Sciences in the 1st quarter valued at $405,000. ProShare Advisors LLC grew its stake in shares of Wave Life Sciences by 35.0% in the first quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock valued at $134,000 after buying an additional 5,648 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after acquiring an additional 521,665 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.