Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $7.00 by Analysts at Royal Bank of Canada

Wave Life Sciences (NASDAQ:WVE) had its price target hoisted by Royal Bank of Canada from $5.00 to $7.00 in a report issued on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other analysts have also weighed in on the stock. HC Wainwright upped their price target on shares of Wave Life Sciences from $15.00 to $22.00 and gave the stock a buy rating in a research note on Wednesday, September 25th. Mizuho reaffirmed an outperform rating and set a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. B. Riley boosted their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the stock a buy rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. began coverage on Wave Life Sciences in a report on Friday, September 27th. They issued an overweight rating and a $13.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Wave Life Sciences has a consensus rating of Moderate Buy and an average price target of $15.00.

Wave Life Sciences Price Performance

WVE opened at $8.04 on Friday. The stock’s 50 day moving average price is $6.28 and its 200 day moving average price is $5.93. The stock has a market cap of $984.70 million, a P/E ratio of -15.46 and a beta of -1.10. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $9.92.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same period last year, the business posted ($0.20) earnings per share. Equities analysts anticipate that Wave Life Sciences will post -1.04 EPS for the current year.

Insider Activity

In other Wave Life Sciences 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 completion of the transaction, the chief executive officer now directly owns 359,059 shares in the company, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 in the company, valued at $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wave Life Sciences

Hedge funds have recently modified their holdings of the stock. Emerald Advisers LLC acquired a new position in Wave Life Sciences in the second quarter worth approximately $12,441,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Wave Life Sciences during the 2nd quarter worth $9,086,000. Artal Group S.A. raised its holdings in shares of Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after purchasing an additional 1,044,000 shares in the last quarter. Ikarian Capital LLC bought a new position in shares of Wave Life Sciences during the 1st quarter valued at $3,641,000. Finally, Vanguard Group Inc. lifted its stake 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 valued at $11,316,000 after purchasing an additional 521,665 shares during the last quarter. 89.73% of the stock is 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.