Wave Life Sciences (NASDAQ:WVE) Price Target Raised to $22.00

Wave Life Sciences (NASDAQ:WVE - Get Free Report) had its price target hoisted by analysts at Mizuho from $19.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price objective suggests a potential upside of 53.31% from the company's previous close.

Several other equities research analysts also recently commented on WVE. Royal Bank of Canada lifted their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a "sector perform" rating in a research report on Monday, October 21st. Wells Fargo & Company raised 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. Raymond James upgraded Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a research note on Wednesday, November 13th. Finally, Truist Financial lifted their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wave Life Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $22.22.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE traded up $0.09 during mid-day trading on Thursday, reaching $14.35. The company had a trading volume of 1,264,575 shares, compared to its average volume of 1,116,751. Wave Life Sciences has a one year low of $3.50 and a one year high of $16.74. The business's 50-day simple moving average is $11.23 and its 200 day simple moving average is $7.71. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -12.85 and a beta of -1.20.

Insider Activity

In other Wave Life Sciences news, CEO Paul Bolno sold 51,234 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $14.32, for a total value of $733,670.88. Following the completion of the transaction, the chief executive officer now owns 217,351 shares of the company's stock, valued at approximately $3,112,466.32. The trade was a 19.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Francis sold 36,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The disclosure for this sale can be found here. Insiders sold a total of 403,690 shares of company stock worth $5,675,883 in the last quarter. 29.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several hedge funds have recently modified their holdings of WVE. Privium Fund Management B.V. purchased a new stake in shares of Wave Life Sciences in the third quarter worth approximately $400,000. Moody Aldrich Partners LLC boosted its stake in shares of Wave Life Sciences by 69.0% during the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company's stock valued at $2,485,000 after purchasing an additional 123,703 shares during the period. SG Americas Securities LLC bought a new position in shares of Wave Life Sciences in the second quarter worth about $668,000. Vanguard Group Inc. increased its stake in Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company's stock worth $11,316,000 after buying an additional 521,665 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in Wave Life Sciences by 62.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company's stock worth $4,531,000 after acquiring an additional 348,300 shares in the last quarter. Hedge funds and other 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.