Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Average Rating of “Buy” from Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have received a consensus recommendation of “Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.22.

Several research firms have recently weighed in on WVE. Leerink Partners raised their price objective 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. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Mizuho increased their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com cut Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Finally, Truist Financial increased their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Wave Life Sciences Stock Down 0.6 %

Shares of Wave Life Sciences stock opened at $14.27 on Friday. The business has a fifty day simple moving average of $11.40 and a 200-day simple moving average of $7.75. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week 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.

Insider Buying and Selling

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. This represents a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 403,690 shares of company stock worth $5,675,883. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Wave Life Sciences by 23.4% during the 3rd 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 during the last quarter. Ameritas Investment Partners Inc. boosted its position in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares during the period. Profund Advisors LLC acquired a new position in Wave Life Sciences during the second quarter valued at approximately $53,000. Point72 DIFC Ltd bought a new position in shares of Wave Life Sciences in the third quarter valued at approximately $98,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Wave Life Sciences in the second quarter worth $74,000. 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.