Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $22.22 Average Target Price from Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given an average rating of “Buy” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $22.22.

A number of research analysts have commented on the company. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Mizuho lifted their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company increased their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Truist Financial lifted their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 17th.

Wave Life Sciences Trading Down 1.2 %

NASDAQ WVE opened at $11.13 on Friday. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $16.74. The firm has a market capitalization of $1.70 billion, a P/E ratio of -10.03 and a beta of -1.07. The firm’s fifty day moving average price is $13.93 and its two-hundred day moving average price is $9.86.

Insiders Place Their Bets

In other news, insider Chris Francis sold 36,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Bolno sold 51,234 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $14.32, for a total value of $733,670.88. Following the completion of the sale, the chief executive officer now owns 217,351 shares in the company, valued at $3,112,466.32. The trade was a 19.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,234 shares of company stock valued at $2,059,671. 29.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors have recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. boosted its position in Wave Life Sciences by 23.4% during the third 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. Profund Advisors LLC bought a new position in shares of Wave Life Sciences during the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. acquired a new stake in shares of Wave Life Sciences during the 2nd quarter worth approximately $74,000. Mackenzie Financial Corp increased its stake 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 valued at $79,000 after acquiring an additional 1,905 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Wave Life Sciences during the 3rd quarter valued at $98,000. 89.73% of the stock is owned by institutional investors.

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.