JPMorgan Chase & Co. Raises Wave Life Sciences (NASDAQ:WVE) Price Target to $17.00

Wave Life Sciences (NASDAQ:WVE) had its price objective hoisted by JPMorgan Chase & Co. from $13.00 to $17.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also issued reports on WVE. HC Wainwright reissued a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a research report on Thursday. Leerink Partners increased their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. B. Riley upped their price target on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their price objective on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.56.

Wave Life Sciences Stock Performance

NASDAQ WVE opened at $15.31 on Thursday. The firm’s 50 day moving average price is $7.10 and its two-hundred day moving average price is $6.22. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $15.92. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -29.44 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the prior year, the firm posted ($0.20) EPS. On average, research analysts forecast that Wave Life Sciences will post -1 EPS for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In related news, CEO Paul Bolno sold 90,474 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $1,357,110.00. Following the transaction, the chief executive officer now directly owns 268,585 shares of the company’s stock, valued at approximately $4,028,775. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $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 the SEC website. Also, CEO Paul Bolno sold 90,474 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares of the company’s stock, valued at $4,028,775. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 364,822 shares of company stock worth $4,645,768 over the last three months. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

A number of institutional investors have recently made changes to their positions in WVE. Ameritas Investment Partners Inc. increased its position in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the period. Profund Advisors LLC acquired a new stake in Wave Life Sciences in the 2nd quarter worth $53,000. Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences during the 2nd quarter worth about $74,000. Mackenzie Financial Corp increased its holdings in shares of Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Wave Life Sciences during the second quarter valued at about $104,000. 89.73% of the stock is currently owned by 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.