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

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given an average rating of “Buy” by the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $22.22.

A number of equities analysts recently issued reports on WVE shares. Mizuho increased their target price 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. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th.

Wave Life Sciences Stock Performance

NASDAQ:WVE opened at $14.99 on Friday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -13.50 and a beta of -1.20. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $16.74. The business has a fifty day moving average of $11.93 and a 200-day moving average of $7.97.

Insider Transactions at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the firm’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 transaction of $154,314.00. Following the completion of the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The stock was bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 453,690 shares of company stock valued at $6,425,883 over the last quarter. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Wave Life Sciences by 171.1% during the 3rd quarter. Barclays PLC now owns 159,241 shares of the company’s stock valued at $1,307,000 after buying an additional 100,498 shares during the last quarter. Geode Capital Management LLC raised its position in Wave Life Sciences by 14.3% during the third quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock valued at $18,615,000 after acquiring an additional 283,419 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in Wave Life Sciences in the third quarter valued at approximately $123,000. XTX Topco Ltd bought a new stake in Wave Life Sciences in the third quarter worth approximately $126,000. Finally, Jane Street Group LLC increased its stake in shares of Wave Life Sciences by 33.3% during the 3rd quarter. Jane Street Group LLC now owns 142,014 shares of the company’s stock worth $1,165,000 after purchasing an additional 35,472 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.