Wave Life Sciences (NASDAQ:WVE) Rating Reiterated by Truist Financial

Wave Life Sciences (NASDAQ:WVE - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Truist Financial in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $17.00 target price on the stock. Truist Financial's target price indicates a potential upside of 169.41% from the company's current price.

A number of other equities research analysts have also recently weighed in on WVE. Royal Bank of Canada reissued a "sector perform" rating and issued a $5.00 price target on shares of Wave Life Sciences in a research report on Thursday, March 7th. Leerink Partnrs raised shares of Wave Life Sciences from a "market perform" rating to an "outperform" rating in a research report on Tuesday, December 19th. HC Wainwright upped their target price on shares of Wave Life Sciences from $8.00 to $15.00 and gave the company a "buy" rating in a report on Thursday, March 7th. SVB Leerink raised shares of Wave Life Sciences from a "market perform" rating to an "outperform" rating and upped their target price for the company from $5.00 to $12.00 in a report on Tuesday, December 19th. Finally, StockNews.com cut shares of Wave Life Sciences from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $10.14.

Wave Life Sciences Price Performance

Shares of WVE traded up $0.14 during midday trading on Monday, reaching $6.31. The stock had a trading volume of 547,030 shares, compared to its average volume of 930,455. Wave Life Sciences has a 1-year low of $3.15 and a 1-year high of $7.67. The company's fifty day simple moving average is $5.00 and its two-hundred day simple moving average is $5.19. The company has a market cap of $771.59 million, a price-to-earnings ratio of -11.22 and a beta of -1.13.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.04. The firm had revenue of $29.06 million during the quarter, compared to analyst estimates of $23.30 million. During the same quarter in the previous year, the business posted ($0.47) earnings per share. On average, sell-side analysts forecast that Wave Life Sciences will post -0.94 earnings per share for the current year.

Institutional Trading of Wave Life Sciences

Hedge funds have recently bought and sold shares of the company. James J. Burns & Company LLC grew its stake in shares of Wave Life Sciences by 10.2% in the 3rd quarter. James J. Burns & Company LLC now owns 33,049 shares of the company's stock worth $190,000 after purchasing an additional 3,049 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Wave Life Sciences by 1.6% in the first quarter. Wellington Management Group LLP now owns 244,998 shares of the company's stock worth $1,061,000 after acquiring an additional 3,857 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Wave Life Sciences by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 169,693 shares of the company's stock worth $976,000 after acquiring an additional 4,555 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Wave Life Sciences by 5.7% during the third quarter. Rhumbline Advisers now owns 111,511 shares of the company's stock worth $641,000 after purchasing an additional 6,026 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Wave Life Sciences by 257.9% during the second quarter. Royal Bank of Canada now owns 8,787 shares of the company's stock worth $32,000 after purchasing an additional 6,332 shares during the period. 89.73% of the stock is currently owned by institutional investors.

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.