Wave Life Sciences (NASDAQ:WVE) Given "Buy" Rating at HC Wainwright

Wave Life Sciences (NASDAQ:WVE - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $22.00 price target on the stock. HC Wainwright's price target points to a potential upside of 40.22% from the company's current price.

A number of other research analysts also recently weighed in on the stock. B. Riley increased 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. Truist Financial lifted their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday. Raymond James upgraded Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a research report on Monday, October 21st. Finally, Leerink Partners raised their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.89.

Wave Life Sciences Trading Down 1.3 %

Shares of WVE traded down $0.20 during trading hours on Wednesday, reaching $15.69. 1,977,391 shares of the stock traded hands, compared to its average volume of 1,114,048. The company's 50-day moving average price is $10.40 and its two-hundred day moving average price is $7.41. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $16.74. The company has a market cap of $1.96 billion, a P/E ratio of -14.14 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.19). Wave Life Sciences had a negative return on equity of 694.73% and a negative net margin of 66.50%. The company had revenue of ($7.68) million during the quarter, compared to the consensus estimate of $15.45 million. On average, research analysts forecast that Wave Life Sciences will post -1.01 EPS for the current year.

Insider Activity

In related news, CEO Paul Bolno sold 48,366 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction 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 $2,075,361.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Plc Gsk bought 2,791,930 shares of the company's stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares of the company's stock, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 364,822 shares of company stock worth $4,645,768. 29.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock worth $37,000 after purchasing an additional 856 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company's stock valued at $45,000 after buying an additional 2,451 shares during the period. Profund Advisors LLC purchased a new position in Wave Life Sciences during the second quarter valued at $53,000. Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences in the second quarter worth about $74,000. Finally, Mackenzie Financial Corp lifted its position 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 worth $79,000 after buying an additional 1,905 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

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.