Royal Bank of Canada Boosts Wave Life Sciences (NASDAQ:WVE) Price Target to $15.00

by · The Markets Daily

Wave Life Sciences (NASDAQ:WVE – Free Report) had its target price upped by Royal Bank of Canada from $7.00 to $15.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other equities analysts have also issued reports about the company. Mizuho reissued an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. JPMorgan Chase & Co. increased their price target 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. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research note on Thursday, October 17th. Wells Fargo & Company increased their price target on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, B. Riley increased their price target on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.44.

View Our Latest Research Report on Wave Life Sciences

Wave Life Sciences Stock Up 1.0 %

NASDAQ WVE opened at $14.82 on Monday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -28.50 and a beta of -1.10. The business has a 50-day moving average price of $7.84 and a 200-day moving average price of $6.47. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $15.92.

Wave Life Sciences (NASDAQ:WVE – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period last year, the company earned ($0.20) EPS. Research analysts expect that Wave Life Sciences will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction that occurred on 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 directly owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was 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 approximately $177,993. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Francis sold 208,836 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold a total of 364,822 shares of company stock worth $4,645,768 over the last ninety days. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 worth $37,000 after buying an additional 856 shares during the period. Moody Aldrich Partners LLC grew its stake in Wave Life Sciences by 69.0% in the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock worth $2,485,000 after purchasing an additional 123,703 shares in the last quarter. Driehaus Capital Management LLC grew its stake in Wave Life Sciences by 62.2% in the second quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after purchasing an additional 348,300 shares in the last quarter. Mackenzie Financial Corp grew its stake in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Wave Life Sciences by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after purchasing an additional 4,914 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Company Profile

(Get Free Report)

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.

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