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

Wave Life Sciences Ltd. (NASDAQ:WVE) has been given an average recommendation of “Buy” by the ten analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $22.22.

WVE has been the topic of a number of research reports. B. Riley raised their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Truist Financial raised their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Royal Bank of Canada increased 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. Finally, Leerink Partners lifted their price objective on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th.

Insider Buying and Selling

In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. This trade represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 453,690 shares of company stock worth $6,425,883 in the last 90 days. 29.10% of the stock is owned by corporate insiders.

Institutional Trading of Wave Life Sciences

Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after buying an additional 856 shares during the last quarter. Mackenzie Financial Corp raised its stake in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the period. Rhumbline Advisers grew its stake in Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after purchasing an additional 4,092 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Wave Life Sciences by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after purchasing an additional 4,914 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Stock Up 0.7 %

WVE stock opened at $15.10 on Friday. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $16.74. The firm’s 50-day moving average is $12.49 and its 200 day moving average is $8.13.

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.