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

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been given a consensus recommendation of "Buy" by the nine ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.22.

WVE has been the topic of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, November 13th. B. Riley raised their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Wells Fargo & Company upped 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. Royal Bank of Canada lifted their price target on shares of Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a research report on Monday, October 21st. Finally, Leerink Partners raised their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock traded down $0.96 during trading on Friday, reaching $11.54. 1,584,482 shares of the company traded hands, compared to its average volume of 989,564. The firm has a market capitalization of $1.76 billion, a PE ratio of -10.40 and a beta of -1.07. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74. The company has a 50 day moving average price of $14.03 and a 200-day moving average price of $9.74.

Insider Buying and Selling

In other Wave Life Sciences news, insider Chris Francis sold 36,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Bolno sold 90,474 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of 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 25.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 436,544 shares of company stock valued at $6,271,569. 29.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WVE. Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $37,000 after purchasing an additional 856 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Wave Life Sciences during the 2nd quarter valued at $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the 2nd quarter worth $74,000. Mackenzie Financial Corp lifted its holdings in shares of Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company's stock worth $79,000 after acquiring an additional 1,905 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Wave Life Sciences in the third quarter worth $98,000. 89.73% of the stock is owned by institutional investors.

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.