Royal Bank of Canada Raises Wave Life Sciences (NASDAQ:WVE) Price Target to $7.00

Wave Life Sciences (NASDAQ:WVE) had its price target lifted by Royal Bank of Canada from $5.00 to $7.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other research analysts have also weighed in on WVE. B. Riley raised their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a buy rating in a research note on Thursday. Mizuho reiterated an outperform rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. JPMorgan Chase & Co. began coverage on Wave Life Sciences in a research note on Friday, September 27th. They set an overweight rating and a $13.00 price objective on the stock. Finally, HC Wainwright raised their target price on Wave Life Sciences from $15.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wave Life Sciences presently has a consensus rating of Moderate Buy and an average target price of $15.00.

Wave Life Sciences Stock Performance

WVE stock opened at $8.41 on Friday. Wave Life Sciences has a one year low of $3.50 and a one year high of $9.92. The firm’s fifty day moving average is $6.25 and its 200 day moving average is $5.92. The firm has a market cap of $1.03 billion, a PE ratio of -16.17 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The company had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. Research analysts predict that Wave Life Sciences will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the company’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 sale, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Artal Group S.A. lifted its stake in 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 buying an additional 1,044,000 shares during the last quarter. Emerald Advisers LLC acquired a new stake in Wave Life Sciences during the 2nd quarter worth $12,441,000. Price T Rowe Associates Inc. MD grew its position in Wave Life Sciences by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after purchasing an additional 233,891 shares during the last quarter. Vanguard Group Inc. grew its position in Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after purchasing an additional 521,665 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Wave Life Sciences in the second quarter valued at $9,086,000. Institutional investors and hedge funds 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.