Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $22.60 Average Price Target from Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have received a consensus recommendation of “Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $22.60.

A number of analysts recently issued reports on WVE shares. Jefferies Financial Group began coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price for the company. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $8.62 on Friday. Wave Life Sciences has a 12 month low of $4.25 and a 12 month high of $16.74. The firm has a market capitalization of $1.32 billion, a PE ratio of -7.77 and a beta of -1.04. The business’s fifty day moving average price is $10.73 and its 200 day moving average price is $11.73.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. As a group, equities analysts anticipate that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Activity

In related news, Director Christian O. Henry sold 10,500 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the transaction, the director now owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the sale, the chief executive officer now owns 338,351 shares of the company’s stock, valued at approximately $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WVE. GF Fund Management CO. LTD. purchased a new position in shares of Wave Life Sciences during the 4th quarter worth about $40,000. Quarry LP purchased a new position in shares of Wave Life Sciences in the 4th quarter worth $62,000. KBC Group NV acquired a new position in Wave Life Sciences in the fourth quarter valued at $67,000. Point72 DIFC Ltd acquired a new stake in Wave Life Sciences during the third quarter worth about $98,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Wave Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after purchasing an additional 2,308 shares during the period. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.