Analysts Set Wave Life Sciences Ltd. (NASDAQ:WVE) Target Price at $10.14

Wave Life Sciences Ltd. (NASDAQ:WVE) has earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.14.

WVE has been the subject of a number of recent analyst reports. Truist Financial restated a “buy” rating and set a $17.00 price target on shares of Wave Life Sciences in a report on Monday, April 1st. HC Wainwright upped their price target on Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. StockNews.com downgraded Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $5.00 price objective on shares of Wave Life Sciences in a report on Thursday, March 7th.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $5.76 on Tuesday. The firm has a fifty day moving average of $5.75 and a 200 day moving average of $5.19. The firm has a market cap of $704.56 million, a PE ratio of -10.47 and a beta of -0.99. Wave Life Sciences has a one year low of $3.15 and a one year high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.04. The firm had revenue of $29.06 million for the quarter, compared to analysts’ expectations of $23.30 million. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. On average, equities analysts predict that Wave Life Sciences will post -0.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the sale, the chief financial officer now owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 31.10% of the stock is owned by insiders.

Institutional Trading of Wave Life Sciences

Several large investors have recently bought and sold shares of WVE. Oxford Asset Management LLP acquired a new stake in Wave Life Sciences during the 4th quarter valued at $51,000. Tower Research Capital LLC TRC lifted its position in shares of Wave Life Sciences by 461.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock valued at $57,000 after acquiring an additional 9,316 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Wave Life Sciences by 351.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock valued at $58,000 after acquiring an additional 8,920 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Wave Life Sciences during the 4th quarter worth about $64,000. Finally, Teacher Retirement System of Texas acquired a new position in Wave Life Sciences in the 4th quarter valued at about $86,000. 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.