Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) PT at $22.22

Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been given an average recommendation of "Buy" by the ten research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.22.

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a research note on Monday, October 21st. B. Riley upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Truist Financial boosted their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Leerink Partners lifted their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Finally, Mizuho increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st.

Wave Life Sciences Stock Up 7.4 %

Shares of NASDAQ WVE opened at $14.45 on Wednesday. The stock has a market capitalization of $2.20 billion, a PE ratio of -13.02 and a beta of -1.21. The firm has a fifty day moving average of $14.03 and a 200-day moving average of $8.87. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $16.74.

Insiders Place Their Bets

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the business'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 transaction, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Bolno sold 50,000 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the sale, the chief executive officer now directly owns 217,351 shares of the company's stock, valued at $3,260,265. This trade represents a 18.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,690 shares of company stock worth $6,425,883 over the last ninety days. Company insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock worth $37,000 after buying an additional 856 shares during the period. Profund Advisors LLC acquired a new stake in shares of Wave Life Sciences during the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. Mackenzie Financial Corp raised its stake in shares of Wave Life Sciences by 13.6% in 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 in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Wave Life Sciences during the third quarter worth $98,000. 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.