Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) PT at $22.22

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given a consensus rating of “Buy” by the ten research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.22.

A number of brokerages recently issued reports on WVE. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Truist Financial raised their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Finally, Mizuho raised their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st.

Insider Buying and Selling at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. The trade was a 46.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Paul Bolno sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at approximately $3,260,265. The trade was a 18.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,690 shares of company stock worth $6,425,883 in the last quarter. 29.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wave Life Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares during the period. Profund Advisors LLC bought a new stake in Wave Life Sciences in the second quarter worth about $53,000. Point72 DIFC Ltd purchased a new position in shares of Wave Life Sciences during the third quarter valued at approximately $98,000. Finally, Principal Financial Group Inc. bought a new position in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $15.10 on Friday. The stock has a 50-day simple moving average of $12.49 and a two-hundred day simple moving average of $8.13. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $16.74.

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.