Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $22.22

Wave Life Sciences Ltd. (NASDAQ:WVE) has earned a consensus recommendation of “Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $22.22.

A number of brokerages have recently issued reports on WVE. Leerink Partners lifted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Mizuho boosted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Finally, StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th.

Insiders Place Their Bets

In related news, CEO Paul Bolno sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 217,351 shares in the company, valued at $3,260,265. The trade was a 18.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Francis sold 36,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $16.00, for a total value of $576,000.00. The disclosure for this sale can be found here. Insiders have sold 137,234 shares of company stock valued at $2,059,671 over the last ninety days. 29.10% of the stock is owned by insiders.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of WVE. Mirae Asset Global Investments Co. Ltd. raised its stake 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 worth $37,000 after buying an additional 856 shares during the period. Profund Advisors LLC acquired a new position in Wave Life Sciences in the 2nd quarter valued at $53,000. Principal Financial Group Inc. purchased a new stake in shares of Wave Life Sciences during the second quarter worth $74,000. Mackenzie Financial Corp lifted its stake in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Wave Life Sciences in the 3rd quarter worth approximately $98,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Stock Down 1.2 %

Shares of NASDAQ:WVE opened at $11.13 on Friday. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74. The stock’s 50 day moving average is $13.93 and its 200-day moving average is $9.86. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -10.03 and a beta of -1.07.

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.