Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $22.22

Wave Life Sciences Ltd. (NASDAQ:WVE) has received an average recommendation of “Buy” from the ten research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $22.22.

A number of research analysts have commented on the company. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Leerink Partners boosted their target price on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Mizuho boosted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. B. Riley boosted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th.

Insider Activity at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. This represents a 46.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 403,690 shares of company stock worth $5,675,883 over the last three months. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of large investors have recently bought and sold shares of WVE. Emerald Advisers LLC bought a new stake in Wave Life Sciences during the 2nd quarter worth approximately $12,441,000. Maverick Capital Ltd. grew its position in Wave Life Sciences by 31.0% during the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after acquiring an additional 2,378,159 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in Wave Life Sciences during the 2nd quarter worth approximately $9,086,000. Artal Group S.A. lifted its holdings in Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after buying an additional 1,044,000 shares in the last quarter. Finally, FMR LLC lifted its holdings in Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after buying an additional 979,110 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Trading Up 4.3 %

Shares of WVE stock opened at $14.89 on Friday. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -13.28 and a beta of -1.20. The stock’s fifty day simple moving average is $11.57 and its 200-day simple moving average is $7.84.

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.