Wave Life Sciences (NASDAQ:WVE) PT Raised to $7.00 at Royal Bank of Canada

Wave Life Sciences (NASDAQ:WVE) had its price objective increased by equities researchers at Royal Bank of Canada from $5.00 to $7.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 16.77% from the company’s current price.

Several other analysts have also commented on the stock. HC Wainwright raised their price target on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. B. Riley lifted their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a research report on Friday, September 27th. They issued an “overweight” rating and a $13.00 target price on the stock. Finally, Mizuho reiterated an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Wave Life Sciences has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Wave Life Sciences Trading Down 1.1 %

NASDAQ WVE opened at $8.41 on Friday. The company has a fifty day simple moving average of $6.25 and a two-hundred day simple moving average of $5.92. The stock has a market cap of $1.03 billion, a P/E ratio of -16.17 and a beta of -1.10. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the previous year, the company earned ($0.20) EPS. As a group, sell-side analysts forecast that Wave Life Sciences will post -1.04 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In other news, major shareholder Plc Gsk bought 2,791,930 shares of Wave Life Sciences stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 of the company’s stock, valued at approximately $177,993. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Plc Gsk purchased 2,791,930 shares of Wave Life Sciences stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Wave Life Sciences in the second quarter valued at approximately $668,000. Vanguard Group Inc. grew its holdings in Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after acquiring an additional 521,665 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in Wave Life Sciences by 62.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after acquiring an additional 348,300 shares in the last quarter. Virtu Financial LLC acquired a new position in Wave Life Sciences during the 4th quarter worth approximately $174,000. Finally, Capstone Investment Advisors LLC grew its holdings in Wave Life Sciences by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after acquiring an additional 4,500 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.