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

Wave Life Sciences Ltd. (NASDAQ:WVE) has been assigned an average rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $22.22.

Several research analysts have recently weighed in on the company. Leerink Partners upped their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. B. Riley boosted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective 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. Finally, Mizuho lifted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st.

Wave Life Sciences Stock Up 4.8 %

NASDAQ:WVE opened at $10.91 on Thursday. The company has a 50 day moving average price of $12.55 and a 200-day moving average price of $10.68. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74.

Insider Buying and Selling

In other news, CEO Paul Bolno sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief executive officer now owns 217,351 shares of the company’s stock, valued at approximately $3,260,265. The trade was a 18.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 29.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wave Life Sciences

A number of large investors have recently bought and sold shares of WVE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 increased its stake in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Wave Life Sciences by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company’s stock valued at $180,000 after acquiring an additional 2,073 shares during the last quarter. Kraematon Investment Advisors Inc. raised its stake in Wave Life Sciences by 24.3% during the fourth quarter. Kraematon Investment Advisors Inc. now owns 19,885 shares of the company’s stock worth $246,000 after purchasing an additional 3,885 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of Wave Life Sciences by 36.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,579 shares of the company’s stock worth $193,000 after buying an additional 4,120 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

About Wave Life Sciences

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.