Wave Life Sciences Ltd. (NASDAQ:WVE) Receives $22.22 Average Price Target from Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE) has been given an average rating of “Buy” by the nine analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.22.

WVE has been the subject of a number of research reports. Leerink Partners lifted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a 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 stock an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. Finally, B. Riley increased their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Insider Transactions at Wave Life Sciences

In related news, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 436,544 shares of company stock valued at $6,271,569. 29.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wave Life Sciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Maverick Capital Ltd. increased its position in Wave Life Sciences by 31.0% during the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after buying an additional 2,378,159 shares during the period. Emerald Advisers LLC increased its holdings in shares of Wave Life Sciences by 15.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock valued at $23,628,000 after acquiring an additional 388,280 shares during the period. State Street Corp increased its holdings in shares of Wave Life Sciences by 2.6% in the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company’s stock valued at $19,034,000 after acquiring an additional 57,822 shares during the period. Geode Capital Management LLC raised its position in Wave Life Sciences by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock valued at $18,615,000 after purchasing an additional 283,419 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Wave Life Sciences by 16.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock worth $17,412,000 after purchasing an additional 302,528 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $13.41 on Wednesday. The company has a market cap of $2.05 billion, a P/E ratio of -12.08 and a beta of -1.21. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74. The stock has a 50-day moving average of $14.41 and a two-hundred day moving average of $9.07.

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.