Wave Life Sciences (NASDAQ:WVE) Reaches New 12-Month High - Still a Buy?

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.92 and last traded at $15.56, with a volume of 887288 shares changing hands. The stock had previously closed at $14.83.

Wall Street Analyst Weigh In

WVE has been the topic of a number of analyst reports. B. Riley lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Thursday, October 31st. 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 report on Monday, October 21st. Leerink Partners boosted their price target on Wave Life Sciences from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.78.

Wave Life Sciences Stock Performance

The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -28.25 and a beta of -1.20. The firm has a fifty day moving average of $9.55 and a 200-day moving average of $7.08.

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

Insider Activity

In related news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the transaction, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade 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 is accessible through this link. In related news, CEO Paul Bolno sold 48,366 shares of Wave Life Sciences stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the transaction, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade 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 is accessible through this link. Also, 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 transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 364,822 shares of company stock worth $4,645,768 over the last ninety days. Corporate insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP raised its holdings in shares of Wave Life Sciences by 14.9% during the third quarter. GSA Capital Partners LLP now owns 63,513 shares of the company's stock valued at $521,000 after buying an additional 8,255 shares during the last quarter. Privium Fund Management B.V. bought a new stake in shares of Wave Life Sciences during the third quarter valued at approximately $400,000. James J. Burns & Company LLC raised its holdings in Wave Life Sciences by 11.2% during the third quarter. James J. Burns & Company LLC now owns 100,111 shares of the company's stock worth $821,000 after purchasing an additional 10,111 shares in the last quarter. Emerald Advisers LLC raised its holdings in Wave Life Sciences by 15.6% during the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company's stock worth $23,628,000 after purchasing an additional 388,280 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in Wave Life Sciences by 16.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company's stock worth $17,412,000 after purchasing an additional 302,528 shares in the last quarter. Institutional investors own 89.73% of the company's stock.

About Wave Life Sciences

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.

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