Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Recommendation of "Buy" from Brokerages

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has received a consensus recommendation of "Buy" from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned 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 research firms have weighed in on WVE. JPMorgan Chase & Co. raised their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. StockNews.com cut shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Mizuho raised their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Finally, B. Riley lifted their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, November 4th.

Wave Life Sciences Stock Down 5.7 %

NASDAQ:WVE traded down $0.67 during trading hours on Thursday, reaching $11.17. The company had a trading volume of 496,483 shares, compared to its average volume of 848,311. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -10.06 and a beta of -1.09. The business's 50-day simple moving average is $12.79 and its two-hundred day simple moving average is $10.62.

Insider Buying and Selling

In related news, CEO Paul Bolno sold 51,234 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $14.32, for a total value of $733,670.88. Following the transaction, the chief executive officer now owns 217,351 shares in the company, valued at approximately $3,112,466.32. This represents a 19.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Maverick Capital Ltd. lifted its holdings in Wave Life Sciences by 31.0% during the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company's stock valued at $82,390,000 after purchasing an additional 2,378,159 shares during the last quarter. FMR LLC lifted its stake in shares of Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company's stock valued at $12,630,000 after buying an additional 979,110 shares in the last quarter. RTW Investments LP bought a new position in Wave Life Sciences in the 3rd quarter worth approximately $7,380,000. Maven Securities LTD bought a new stake in Wave Life Sciences during the 3rd quarter valued at $6,970,000. Finally, Walleye Capital LLC bought a new stake in Wave Life Sciences during the 3rd quarter valued at $4,940,000. 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.