Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $22.00 by Analysts at Leerink Partners

Wave Life Sciences (NASDAQ:WVE) had its price objective upped by Leerink Partners from $20.00 to $22.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Mizuho reiterated an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $13.00 to $22.00 in a research report on Wednesday. HC Wainwright raised their price target on Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. B. Riley upped their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada raised their price objective on Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wave Life Sciences has an average rating of “Moderate Buy” and an average target price of $18.11.

Wave Life Sciences Stock Performance

Wave Life Sciences stock opened at $14.90 on Wednesday. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $15.54. The stock has a market cap of $1.82 billion, a P/E ratio of -28.65 and a beta of -1.10. The firm’s fifty day moving average price is $6.72 and its 200-day moving average price is $6.10.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results 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). The business had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the prior year, the company earned ($0.20) earnings per share. Sell-side analysts predict that Wave Life Sciences will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction 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 sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Artal Group S.A. boosted its stake in shares of Wave Life Sciences by 34.7% during the 1st 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 in the last quarter. Emerald Advisers LLC bought a new stake in Wave Life Sciences during the 2nd quarter valued at approximately $12,441,000. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 acquiring an additional 233,891 shares during the period. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 521,665 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Wave Life Sciences in the 2nd quarter valued at approximately $9,086,000. 89.73% of the stock is currently owned by institutional investors.

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.