Analysts Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $19.44

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have earned an average recommendation of "Buy" from the ten analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $19.44.

A number of brokerages have recently weighed in on WVE. Leerink Partners boosted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. HC Wainwright reiterated a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Thursday, October 17th. Raymond James raised Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price 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, 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 research report on Wednesday, October 16th.

Insider Buying and Selling

In other news, CEO Paul Bolno sold 90,474 shares of the company'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 owns 268,585 shares of the company's stock, valued at approximately $4,028,775. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kyle Moran sold 17,146 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value 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 $177,993. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paul Bolno sold 90,474 shares of Wave Life Sciences stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 364,822 shares of company stock worth $4,645,768. Corporate insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock worth $37,000 after acquiring an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company's stock worth $45,000 after purchasing an additional 2,451 shares during the period. Profund Advisors LLC purchased a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $53,000. Principal Financial Group Inc. purchased a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. Finally, Mackenzie Financial Corp lifted its position in Wave Life Sciences by 13.6% during 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 period. Institutional investors own 89.73% of the company's stock.

Wave Life Sciences Stock Down 1.3 %

Shares of WVE traded down $0.19 during trading hours on Tuesday, reaching $14.80. 1,395,185 shares of the company traded hands, compared to its average volume of 1,098,763. The stock has a market capitalization of $1.81 billion, a PE ratio of -28.46 and a beta of -1.10. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $15.92. The stock has a fifty day simple moving average of $8.20 and a 200 day simple moving average of $6.60.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings data 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). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same period in the prior year, the firm earned ($0.20) earnings per share. Research analysts predict that Wave Life Sciences will post -1.01 EPS for the current fiscal year.

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.