Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $22.00 by Analysts at Wells Fargo & Company

Wave Life Sciences (NASDAQ:WVE) had its target price upped by Wells Fargo & Company from $11.00 to $22.00 in a research report report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

WVE has been the topic of a number of other reports. Mizuho restated an “outperform” rating and set a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday, June 25th. B. Riley boosted their price target on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a report on Friday, September 27th. They issued an “overweight” rating and a $13.00 price objective for the company. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $13.00 to $22.00 in a report on Wednesday. Finally, Royal Bank of Canada upped their target price on Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.56.

Wave Life Sciences Trading Up 4.8 %

Shares of NASDAQ:WVE opened at $15.31 on Wednesday. The firm’s 50 day moving average is $7.10 and its two-hundred day moving average is $6.22. The firm has a market capitalization of $1.88 billion, a P/E ratio of -29.44 and a beta of -1.10. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Analysts predict that Wave Life Sciences will post -1.02 EPS for the current year.

Insiders Place Their Bets

In related news, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 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 sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 364,822 shares of company stock worth $4,645,768. 29.10% of the stock is owned by insiders.

Institutional Trading of Wave Life Sciences

Several large investors have recently added to or reduced their stakes in the company. Artal Group S.A. boosted its position in shares of 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 worth $24,997,000 after buying an additional 1,044,000 shares during the period. Emerald Advisers LLC purchased a new position in Wave Life Sciences during the 2nd quarter valued at about $12,441,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Wave Life Sciences by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after purchasing an additional 233,891 shares during the period. Vanguard Group Inc. increased its holdings 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 valued at $11,316,000 after purchasing an additional 521,665 shares during the period. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Wave Life Sciences in the second quarter worth approximately $9,086,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.