Wave Life Sciences (NASDAQ:WVE) Given New $36.00 Price Target at Truist Financial

Wave Life Sciences (NASDAQ:WVE) had its target price boosted by equities research analysts at Truist Financial from $17.00 to $36.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 129.45% from the company’s current price.

WVE has been the topic of a number of other reports. Leerink Partners raised their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price target on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Finally, 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, October 16th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wave Life Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $21.89.

Wave Life Sciences Stock Performance

Shares of WVE stock traded down $0.75 during trading on Tuesday, hitting $15.69. 1,284,940 shares of the company were exchanged, compared to its average volume of 1,107,298. The business’s 50-day simple moving average is $9.77 and its 200 day simple moving average is $7.19. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -27.53 and a beta of -1.20. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 90,474 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the completion of the transaction, the chief executive officer now owns 268,585 shares in the company, valued at approximately $4,028,775. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Wave Life Sciences news, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Bolno sold 90,474 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the completion of the transaction, the chief executive officer now directly owns 268,585 shares in the company, valued at approximately $4,028,775. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 364,822 shares of company stock valued at $4,645,768. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Wave Life Sciences by 209.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock worth $6,926,000 after acquiring an additional 571,345 shares during the period. Intech Investment Management LLC purchased a new position in Wave Life Sciences in the third quarter valued at approximately $194,000. GSA Capital Partners LLP grew its stake in shares of Wave Life Sciences by 14.9% during the 3rd quarter. GSA Capital Partners LLP now owns 63,513 shares of the company’s stock worth $521,000 after acquiring an additional 8,255 shares during the period. Privium Fund Management B.V. purchased a new position in Wave Life Sciences in the 3rd quarter valued at approximately $400,000. Finally, James J. Burns & Company LLC grew its holdings in Wave Life Sciences by 11.2% during the 3rd quarter. James J. Burns & Company LLC now owns 100,111 shares of the company’s stock valued at $821,000 after buying an additional 10,111 shares in the last quarter. 89.73% of the stock is 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.