Analysts Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $13.17

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.17.

Several brokerages have recently commented on WVE. Wells Fargo & Company began coverage on Wave Life Sciences in a research note on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 price target on the stock. StockNews.com lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Truist Financial reissued a “buy” rating and set a $17.00 target price on shares of Wave Life Sciences in a research note on Monday, April 1st. Mizuho reissued an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Wave Life Sciences in a report on Wednesday, June 26th.

Wave Life Sciences Stock Up 2.4 %

Shares of Wave Life Sciences stock opened at $6.30 on Friday. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $7.67. The business’s fifty day simple moving average is $5.82 and its 200-day simple moving average is $5.42. The firm has a market cap of $771.56 million, a PE ratio of -12.12 and a beta of -1.12.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $12.54 million during the quarter, compared to analyst estimates of $25.67 million. During the same quarter in the previous year, the business posted ($0.27) earnings per share. As a group, equities analysts expect that Wave Life Sciences will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. M28 Capital Management LP increased its holdings in shares of Wave Life Sciences by 4.7% in the 4th quarter. M28 Capital Management LP now owns 7,373,413 shares of the company’s stock valued at $37,236,000 after acquiring an additional 328,913 shares during the last quarter. Artal Group S.A. grew its stake in 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 worth $24,997,000 after buying an additional 1,044,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 buying an additional 233,891 shares during the last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 521,665 shares during the last quarter. Finally, Platinum Investment Management Ltd. grew its stake in Wave Life Sciences by 43.9% during the 4th quarter. Platinum Investment Management Ltd. now owns 655,331 shares of the company’s stock worth $3,309,000 after buying an additional 200,000 shares during 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.