Jefferies Financial Group Initiates Coverage on Wave Life Sciences (NASDAQ:WVE)

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 148.09% from the company’s previous close.

Other analysts have also issued research reports about the company. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Truist Financial upped their price target on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Mizuho upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Finally, B. Riley upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Wave Life Sciences Price Performance

Shares of NASDAQ:WVE opened at $10.48 on Tuesday. Wave Life Sciences has a 1 year low of $4.25 and a 1 year high of $16.74. The business has a 50 day simple moving average of $11.98 and a two-hundred day simple moving average of $10.98. The firm has a market capitalization of $1.60 billion, a PE ratio of -9.44 and a beta of -1.09.

Institutional Trading of Wave Life Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Wave Life Sciences by 66.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,991 shares of the company’s stock valued at $197,000 after buying an additional 9,603 shares during the period. US Bancorp DE raised its holdings in shares of Wave Life Sciences by 53.9% in the 3rd quarter. US Bancorp DE now owns 18,043 shares of the company’s stock valued at $148,000 after purchasing an additional 6,316 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Wave Life Sciences by 16.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock valued at $17,412,000 after purchasing an additional 302,528 shares in the last quarter. Finally, Emerald Advisers LLC lifted its position in Wave Life Sciences by 15.6% in the third quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock valued at $23,628,000 after acquiring an additional 388,280 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.