WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives $20.33 Average Price Target from Brokerages

Key Points

• WAVE Life Sciences Ltd. received a consensus rating of "Moderate Buy" from fifteen research firms, with fourteen recommending to buy and one to hold.
• Recent insider trading includes CEO Paul Bolno, who sold 217,351 shares, reducing his ownership by 64.24%, alongside Director Ken Takanashi who sold 4,872 shares.
• Institutional investors now own 89.73% of the company's stock, highlighting significant interest and investment in WAVE Life Sciences.

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $20.3333.

Several equities analysts recently weighed in on WVE shares. Oppenheimer assumed coverage on WAVE Life Sciences in a research report on Monday, July 28th. They set an "outperform" rating and a $24.00 target price on the stock. Wells Fargo & Company cut their price target on shares of WAVE Life Sciences from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. Leerink Partners set a $26.00 price objective on WAVE Life Sciences in a report on Wednesday, September 3rd. Canaccord Genuity Group assumed coverage on WAVE Life Sciences in a research note on Monday, August 4th. They set a "buy" rating and a $19.00 price target for the company. Finally, Wedbush reissued an "outperform" rating and issued a $18.00 target price on shares of WAVE Life Sciences in a research note on Monday, June 23rd.

Insiders Place Their Bets

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

Institutional Investors Weigh In On WAVE Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in WAVE Life Sciences during the 4th quarter worth approximately $40,000. Ameritas Investment Partners Inc. raised its holdings in shares of WAVE Life Sciences by 18.7% during the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company's stock worth $74,000 after purchasing an additional 1,802 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of WAVE Life Sciences by 44.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company's stock worth $76,000 after buying an additional 3,609 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of WAVE Life Sciences during the 2nd quarter valued at about $80,000. Finally, Knott David M Jr acquired a new stake in WAVE Life Sciences during the first quarter worth about $81,000. Institutional investors own 89.73% of the company's stock.

WAVE Life Sciences Stock Performance

WVE stock traded up $0.01 during trading on Friday, hitting $6.90. The stock had a trading volume of 1,450,938 shares, compared to its average volume of 2,248,328. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -7.67 and a beta of -1.16. The company's 50 day moving average price is $8.41 and its two-hundred day moving average price is $7.61. WAVE Life Sciences has a 1-year low of $5.28 and a 1-year high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million for the quarter, compared to analysts' expectations of $11.52 million. As a group, sell-side analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

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.