Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $17.00 by Analysts at JPMorgan Chase & Co.

Wave Life Sciences (NASDAQ:WVE) had its price target lifted by JPMorgan Chase & Co. from $13.00 to $17.00 in a report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. B. Riley raised their target price on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Thursday. Mizuho reiterated an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada boosted their price target on shares of Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.56.

Wave Life Sciences Stock Down 1.9 %

Shares of WVE opened at $14.61 on Thursday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -28.10 and a beta of -1.10. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $15.92. The stock’s 50-day moving average price is $6.90 and its 200-day moving average price is $6.16.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The company had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. During the same quarter in the prior year, the company posted ($0.20) EPS. As a group, equities analysts anticipate that Wave Life Sciences will post -1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the transaction, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares of the company’s stock, valued at approximately $177,993. The trade was a 0.00 % 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

Large investors have recently added to or reduced their stakes in the business. Emerald Advisers LLC acquired a new stake in shares of Wave Life Sciences during the 2nd quarter worth about $12,441,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Wave Life Sciences during the second quarter valued at about $9,086,000. Artal Group S.A. raised its stake in shares of Wave Life Sciences by 34.7% in the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after acquiring an additional 1,044,000 shares during the period. Ikarian Capital LLC acquired a new position in shares of Wave Life Sciences in the 1st quarter worth approximately $3,641,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock worth $11,316,000 after acquiring an additional 521,665 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.