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

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have received an average rating of "Buy" from the ten brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $22.22.

A number of brokerages have commented on WVE. Wells Fargo & Company increased their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Truist Financial increased 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. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised their target price on shares of 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.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, insider Chris Francis sold 208,836 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total transaction of $2,854,788.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the company's stock in a transaction on Friday, September 27th. The shares were bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 403,690 shares of company stock worth $5,675,883 in the last ninety days. Company insiders own 29.10% of the company's stock.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Maverick Capital Ltd. raised its holdings in shares of Wave Life Sciences by 31.0% in 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. Artal Group S.A. raised its holdings in shares of 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 purchasing an additional 1,044,000 shares during the last quarter. Emerald Advisers LLC raised its holdings in shares of Wave Life Sciences by 15.6% in the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company's stock valued at $23,628,000 after purchasing an additional 388,280 shares during the last quarter. State Street Corp raised its holdings in shares of Wave Life Sciences by 2.6% in the third quarter. State Street Corp now owns 2,321,248 shares of the company's stock valued at $19,034,000 after purchasing an additional 57,822 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Wave Life Sciences by 14.3% in the third quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company's stock valued at $18,615,000 after purchasing an additional 283,419 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Stock Performance

WVE opened at $14.27 on Friday. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74. The firm's 50-day simple moving average is $11.57 and its 200-day simple moving average is $7.81. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -12.86 and a beta of -1.20.

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.