Wave Life Sciences (NASDAQ:WVE) Price Target Raised to $36.00

Wave Life Sciences (NASDAQ:WVE) had its target price hoisted by equities research analysts at Truist Financial from $17.00 to $36.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 129.45% from the stock’s previous close.

WVE has been the topic of several other reports. Royal Bank of Canada raised their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research report on Thursday, October 31st. B. Riley upped their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wave Life Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $21.89.

Wave Life Sciences Trading Down 4.6 %

Shares of NASDAQ WVE traded down $0.75 during midday trading on Tuesday, reaching $15.69. The company’s stock had a trading volume of 1,284,940 shares, compared to its average volume of 1,107,298. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -27.53 and a beta of -1.20. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The stock has a 50 day simple moving average of $9.77 and a 200-day simple moving average of $7.19.

Insider Activity at Wave Life Sciences

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of Wave Life Sciences stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 364,822 shares of company stock worth $4,645,768. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after acquiring an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after buying an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new stake in Wave Life Sciences during the 2nd quarter valued at $53,000. Principal Financial Group Inc. acquired a new stake in Wave Life Sciences during the second quarter valued at approximately $74,000. Finally, Mackenzie Financial Corp grew its stake in Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.