WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives $20.50 Average Price Target from Brokerages

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $20.50.

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a "buy" rating and issued a $22.00 price target on shares of WAVE Life Sciences in a report on Wednesday, March 26th. Cantor Fitzgerald assumed coverage on shares of WAVE Life Sciences in a report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 price target on the stock. Wedbush reissued an "outperform" rating and issued a $18.00 price target on shares of WAVE Life Sciences in a report on Monday, June 23rd. Raymond James Financial assumed coverage on shares of WAVE Life Sciences in a report on Wednesday, June 11th. They issued an "outperform" rating and a $14.00 price target on the stock. Finally, Wall Street Zen lowered shares of WAVE Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th.

Insiders Place Their Bets

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the completion of the sale, the director owned 282,517 shares of the company's stock, valued at $1,963,493.15. This represents a 9.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 23.98% of the stock is owned by insiders.

Institutional Investors Weigh In On WAVE Life Sciences

Several institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in WAVE Life Sciences by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,673 shares of the company's stock valued at $151,000 after buying an additional 1,564 shares during the period. Victory Capital Management Inc. lifted its position in shares of WAVE Life Sciences by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock worth $180,000 after purchasing an additional 2,073 shares during the period. Bank of New York Mellon Corp lifted its position in shares of WAVE Life Sciences by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 247,251 shares of the company's stock worth $1,998,000 after purchasing an additional 2,278 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of WAVE Life Sciences by 31.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company's stock worth $119,000 after purchasing an additional 2,308 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of WAVE Life Sciences in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

WAVE Life Sciences Stock Performance

WAVE Life Sciences stock traded up $0.75 during midday trading on Friday, reaching $7.70. 1,702,119 shares of the stock were exchanged, compared to its average volume of 1,290,965. The company's fifty day moving average is $6.71 and its 200-day moving average is $8.85. The firm has a market cap of $1.20 billion, a PE ratio of -9.17 and a beta of -1.01. WAVE Life Sciences has a 52 week low of $5.04 and a 52 week high of $16.74.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.02). The firm had revenue of $9.18 million for the quarter, compared to analysts' expectations of $11.65 million. During the same quarter last year, the firm earned ($0.24) earnings per share. On average, sell-side analysts anticipate 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.