Wave Life Sciences (NASDAQ:WVE) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a sell rating to a hold rating in a research report released on Thursday.

WVE has been the topic of a number of other research reports. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a research note on Tuesday. They issued a “buy” rating and a $26.00 target price on the stock. B. Riley upped their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, November 13th. Mizuho upped their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Truist Financial upped their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Wave Life Sciences Stock Performance

Shares of WVE opened at $10.56 on Thursday. The company has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $11.01. The firm has a market capitalization of $1.61 billion, a P/E ratio of -9.51 and a beta of -1.09. Wave Life Sciences has a 52 week low of $4.25 and a 52 week high of $16.74.

Institutional Trading of Wave Life Sciences

Several hedge funds have recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after purchasing an additional 856 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $40,000. Quarry LP bought a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $62,000. KBC Group NV bought a new stake in shares of Wave Life Sciences during the fourth quarter valued at approximately $67,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Wave Life Sciences during the third quarter valued at approximately $98,000. 89.73% of the stock is 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.