Analysts Set Wave Life Sciences Ltd. (NASDAQ:WVE) Price Target at $22.60

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

WVE has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target for the company. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday. Mizuho upped their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Truist Financial upped 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.

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after buying an additional 2,073 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Wave Life Sciences by 31.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock valued at $119,000 after buying an additional 2,308 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Wave Life Sciences during the 4th quarter valued at approximately $40,000. Finally, Kraematon Investment Advisors Inc. grew its holdings in Wave Life Sciences by 24.3% during the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock valued at $246,000 after buying an additional 3,885 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Stock Performance

WVE opened at $10.57 on Monday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -9.52 and a beta of -1.09. The company’s 50-day simple moving average is $11.58 and its two-hundred day simple moving average is $11.19. Wave Life Sciences has a 52-week low of $4.25 and a 52-week high of $16.74.

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.