Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $22.60

Wave Life Sciences Ltd. (NASDAQ:WVE) has received an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $22.60.

A number of analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective for the company. Finally, StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, March 8th.

Insider Buying and Selling

In other news, CEO Paul Bolno sold 169,025 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now directly owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WVE. GF Fund Management CO. LTD. bought a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $40,000. Quarry LP bought a new stake in shares of Wave Life Sciences in the 4th quarter valued at $62,000. KBC Group NV acquired a new position in shares of Wave Life Sciences during the 4th quarter valued at $67,000. Point72 DIFC Ltd bought a new position in Wave Life Sciences during the third quarter worth $98,000. Finally, Summit Investment Advisors Inc. grew its holdings in Wave Life Sciences by 31.5% in the fourth 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. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Stock Down 4.2 %

Shares of WVE stock opened at $7.74 on Friday. Wave Life Sciences has a 12-month low of $4.25 and a 12-month high of $16.74. The company has a market capitalization of $1.19 billion, a PE ratio of -6.97 and a beta of -1.04. The firm has a 50 day moving average price of $10.61 and a two-hundred day moving average price of $11.75.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. As a group, research analysts expect that Wave Life Sciences will post -1.14 EPS for the current year.

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.