Analysts Set Wave Life Sciences Ltd. (NASDAQ:WVE) PT at $13.17

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $12.71.

Several research firms have weighed in on WVE. Wells Fargo & Company began coverage on Wave Life Sciences in a report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 target price on the stock. Mizuho reissued an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Wave Life Sciences in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. initiated coverage on Wave Life Sciences in a report on Monday. They issued an “overweight” rating and a $10.00 target price on the stock.

Wave Life Sciences Price Performance

Wave Life Sciences stock opened at $5.90 on Monday. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $7.67. The business has a 50 day simple moving average of $5.79 and a 200-day simple moving average of $5.76. The stock has a market capitalization of $735.97 million, a PE ratio of -11.35 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The business had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same period in the prior year, the company earned ($0.20) EPS. As a group, equities research analysts anticipate that Wave Life Sciences will post -1.05 EPS for the current year.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at approximately $2,075,361.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WVE. Ameritas Investment Partners Inc. lifted its holdings in shares of 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 purchasing an additional 2,451 shares during the last quarter. Oxford Asset Management LLP bought a new stake in shares of Wave Life Sciences in the 4th quarter worth approximately $51,000. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences in the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences in the 2nd quarter worth approximately $74,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Wave Life Sciences by 13.6% in 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. 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.