Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Price Target at $10.14

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.14.

A number of analysts recently issued reports on WVE shares. Truist Financial restated a “buy” rating and issued a $17.00 price target on shares of Wave Life Sciences in a research note on Monday, April 1st. StockNews.com downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $5.00 price objective on shares of Wave Life Sciences in a report on Thursday, March 7th. Finally, HC Wainwright lifted their price objective on shares of Wave Life Sciences from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, March 7th.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $4.80 on Friday. The company has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $5.23. Wave Life Sciences has a 12-month low of $3.15 and a 12-month high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The company had revenue of $29.06 million during the quarter, compared to the consensus estimate of $23.30 million. During the same quarter last year, the firm posted ($0.47) EPS. As a group, analysts expect that Wave Life Sciences will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kyle Moran sold 15,630 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $6.17, for a total transaction of $96,437.10. Following the completion of the transaction, the chief financial officer now owns 33,921 shares of the company’s stock, valued at $209,292.57. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors have recently bought and sold shares of WVE. BlackRock Inc. lifted its holdings in Wave Life Sciences by 227.8% in the second quarter. BlackRock Inc. now owns 4,624,655 shares of the company’s stock worth $16,834,000 after purchasing an additional 3,213,732 shares during the period. Point72 Asset Management L.P. acquired a new stake in Wave Life Sciences in the fourth quarter worth about $16,228,000. FMR LLC lifted its holdings in Wave Life Sciences by 1,759.1% in the second quarter. FMR LLC now owns 1,238,026 shares of the company’s stock worth $4,024,000 after purchasing an additional 1,171,432 shares during the period. State Street Corp lifted its holdings in Wave Life Sciences by 372.6% in the second quarter. State Street Corp now owns 1,184,285 shares of the company’s stock worth $4,311,000 after purchasing an additional 933,688 shares during the period. Finally, Millennium Management LLC lifted its holdings in Wave Life Sciences by 136.3% in the fourth quarter. Millennium Management LLC now owns 1,317,628 shares of the company’s stock worth $9,223,000 after purchasing an additional 760,071 shares during the period. 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.