Brokerages Set WAVE Life Sciences Ltd. (NASDAQ:WVE) PT at $20.33

WAVE Life Sciences Ltd. (NASDAQ:WVE) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $20.5714.

Several research analysts have weighed in on the company. Oppenheimer assumed coverage on WAVE Life Sciences in a research note on Monday, July 28th. They issued an “outperform” rating and a $24.00 price target for the company. Canaccord Genuity Group started coverage on WAVE Life Sciences in a research report on Monday, August 4th. They set a “buy” rating and a $19.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $18.00 target price on shares of WAVE Life Sciences in a research report on Monday, June 23rd. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of WAVE Life Sciences in a research report on Wednesday, September 3rd. Finally, B. Riley reiterated a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, September 4th.

WAVE Life Sciences Price Performance

WVE stock opened at $7.81 on Tuesday. WAVE Life Sciences has a 1-year low of $5.28 and a 1-year high of $16.74. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -8.68 and a beta of -1.37. The business has a 50 day simple moving average of $8.07 and a two-hundred day simple moving average of $7.34.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The business had revenue of $8.70 million during the quarter, compared to analyst estimates of $11.52 million. Sell-side analysts anticipate that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Transactions at WAVE Life Sciences

In related news, Director Ken Takanashi sold 4,872 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $8.75, for a total value of $42,630.00. Following the completion of the sale, the director directly owned 5,716,303 shares in the company, valued at $50,017,651.25. This trade represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory L. Verdine sold 10,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the sale, the director owned 285,217 shares of the company’s stock, valued at approximately $2,852,170. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,893 shares of company stock valued at $2,423,068 over the last quarter. 23.98% of the stock is owned by insiders.

Institutional Trading of WAVE Life Sciences

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its position in WAVE Life Sciences by 97.2% in the first quarter. Invesco Ltd. now owns 78,880 shares of the company’s stock worth $637,000 after buying an additional 38,870 shares during the last quarter. Strs Ohio bought a new stake in WAVE Life Sciences in the first quarter worth $406,000. Principal Financial Group Inc. lifted its position in WAVE Life Sciences by 23.9% in the first quarter. Principal Financial Group Inc. now owns 308,044 shares of the company’s stock worth $2,489,000 after buying an additional 59,399 shares during the last quarter. Rhumbline Advisers lifted its position in WAVE Life Sciences by 6.3% in the first quarter. Rhumbline Advisers now owns 132,700 shares of the company’s stock worth $1,072,000 after buying an additional 7,860 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in WAVE Life Sciences by 16.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,974 shares of the company’s stock worth $339,000 after buying an additional 6,015 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.