Wave Life Sciences Ltd. (NASDAQ:WVE) Given Consensus Rating of “Buy” by Brokerages

Wave Life Sciences Ltd. (NASDAQ:WVE) has been assigned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.22.

WVE has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, November 13th. StockNews.com cut shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. B. Riley lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th.

Insiders Place Their Bets

In related news, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction on Friday, September 27th. The stock was bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 453,690 shares of company stock worth $6,425,883 over the last 90 days. Corporate insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in WVE. ProShare Advisors LLC lifted its holdings in Wave Life Sciences by 35.0% during the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock valued at $134,000 after purchasing an additional 5,648 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Wave Life Sciences by 23.3% in the 1st quarter. American International Group Inc. now owns 36,241 shares of the company’s stock worth $224,000 after acquiring an additional 6,851 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Wave Life Sciences by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock worth $11,485,000 after acquiring an additional 233,891 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $14.99 on Friday. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -13.50 and a beta of -1.20. The stock’s 50 day simple moving average is $11.93 and its 200 day simple moving average is $7.97. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74.

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.