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

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.14.

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

Wave Life Sciences Trading Up 0.2 %

Wave Life Sciences stock opened at $4.80 on Friday. The stock has a fifty day moving average price of $5.40 and a two-hundred day moving average price of $5.23. Wave Life Sciences has a 52-week low of $3.15 and a 52-week high of $7.67.

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

Insider Activity at Wave Life Sciences

In related news, CFO Kyle Moran sold 15,630 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total value of $96,437.10. Following the transaction, the chief financial officer now owns 33,921 shares in the company, valued at $209,292.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.10% of the stock is owned by company insiders.

Institutional Trading of Wave Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Wave Life Sciences by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 1,312,425 shares of the company’s stock valued at $6,628,000 after acquiring an additional 129,823 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Wave Life Sciences by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 274,093 shares of the company’s stock valued at $1,384,000 after acquiring an additional 9,208 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Wave Life Sciences by 14.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 391,132 shares of the company’s stock valued at $1,975,000 after acquiring an additional 49,338 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Wave Life Sciences in the 4th quarter valued at about $174,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Wave Life Sciences by 28.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,627,363 shares of the company’s stock valued at $8,219,000 after acquiring an additional 358,201 shares during the last quarter. 89.73% of the stock is owned by institutional investors.

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.