Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Rating of “Buy” by Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned an average recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $22.22.

A number of analysts have recently weighed in on the stock. Mizuho increased 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. Royal Bank of Canada lifted their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. B. Riley raised their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Truist Financial boosted their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

Wave Life Sciences Trading Down 1.4 %

Shares of NASDAQ:WVE opened at $11.31 on Friday. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74. The company has a market cap of $1.73 billion, a PE ratio of -10.19 and a beta of -1.07. The company’s 50 day moving average is $13.80 and its 200 day moving average is $9.88.

Insider Activity

In related news, CEO Paul Bolno sold 51,234 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $14.32, for a total transaction of $733,670.88. Following the completion of the transaction, the chief executive officer now owns 217,351 shares in the company, valued at $3,112,466.32. This represents a 19.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Francis sold 36,000 shares of Wave Life Sciences 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 disclosure for this sale can be found here. Insiders sold 137,234 shares of company stock worth $2,059,671 over the last three months. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 worth $37,000 after buying an additional 856 shares in the last quarter. Mackenzie Financial Corp grew its stake in Wave Life Sciences by 13.6% during 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. Kraematon Investment Advisors Inc. raised its holdings in Wave Life Sciences by 24.3% in the 4th quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock valued at $246,000 after acquiring an additional 3,885 shares during the last quarter. Rhumbline Advisers lifted its stake in Wave Life Sciences by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after purchasing an additional 4,092 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Wave Life Sciences by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after purchasing an additional 4,914 shares during the last quarter. 89.73% of the stock is 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.