Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Average Rating of “Buy” from Analysts

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have received an average rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.22.

Several research analysts have recently commented on WVE shares. Royal Bank of Canada boosted their price target on 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. 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 report on Thursday, October 17th. Truist Financial boosted their price target 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. Wells Fargo & Company boosted their price target 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. Finally, Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th.

Wave Life Sciences Stock Down 4.6 %

Shares of NASDAQ WVE opened at $10.66 on Thursday. The business has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $10.62. The firm has a market cap of $1.63 billion, a PE ratio of -9.60 and a beta of -1.09. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74.

Insider Buying and Selling

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 transaction of $733,670.88. Following the sale, the chief executive officer now owns 217,351 shares in the company, valued at approximately $3,112,466.32. The trade was a 19.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.10% of the stock is owned by company insiders.

Institutional Trading of Wave Life Sciences

Several large investors have recently added to or reduced their stakes in WVE. Maverick Capital Ltd. grew its stake in Wave Life Sciences by 31.0% during the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock valued at $82,390,000 after purchasing an additional 2,378,159 shares during the last quarter. FMR LLC lifted its holdings in shares of Wave Life Sciences by 174.5% in the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after buying an additional 979,110 shares during the period. RTW Investments LP acquired a new position in shares of Wave Life Sciences in the 3rd quarter valued at about $7,380,000. Maven Securities LTD acquired a new position in shares of Wave Life Sciences in the 3rd quarter valued at about $6,970,000. Finally, Walleye Capital LLC acquired a new position in shares of Wave Life Sciences in the 3rd quarter valued at about $4,940,000. Hedge funds and other 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.