B. Riley Issues Positive Forecast for Wave Life Sciences (NASDAQ:WVE) Stock Price

Wave Life Sciences (NASDAQ:WVE - Free Report) had its price objective lifted by B. Riley from $19.00 to $22.00 in a report published on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on WVE. JPMorgan Chase & Co. lifted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. HC Wainwright reissued a "buy" rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Thursday. Leerink Partners lifted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Raymond James upgraded shares of Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.78.

Wave Life Sciences Stock Down 0.3 %

Shares of WVE traded down $0.04 during mid-day trading on Monday, hitting $13.79. The stock had a trading volume of 789,864 shares, compared to its average volume of 1,100,364. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $15.92. The company has a market cap of $1.72 billion, a PE ratio of -24.19 and a beta of -1.20. The company's fifty day simple moving average is $8.87 and its two-hundred day simple moving average is $6.85.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company 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 period in the prior year, the business earned ($0.20) earnings per share. Equities analysts expect that Wave Life Sciences will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 90,474 shares of the firm's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the transaction, the chief executive officer now directly owns 268,585 shares in the company, valued at $4,028,775. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Paul Bolno sold 90,474 shares of the business's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the sale, the chief executive officer now directly owns 268,585 shares in the company, valued at approximately $4,028,775. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price 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 $134,205,528. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 364,822 shares of company stock valued at $4,645,768 over the last ninety days. Corporate insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Emerald Advisers LLC acquired a new position in Wave Life Sciences in the 2nd quarter valued at approximately $12,441,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Wave Life Sciences during the second quarter worth $9,086,000. Artal Group S.A. increased its stake in Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company's stock valued at $24,997,000 after acquiring an additional 1,044,000 shares during the period. Ikarian Capital LLC bought a new stake in shares of Wave Life Sciences in the 1st quarter valued at approximately $3,641,000. Finally, Vanguard Group Inc. grew its position in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock valued at $11,316,000 after acquiring an additional 521,665 shares during the period. Institutional investors and hedge funds 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.