Wave Life Sciences Ltd. (NASDAQ:WVE) Given Average Recommendation of “Buy” by Brokerages

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $22.22.

Several equities analysts recently commented on WVE shares. Royal Bank of Canada boosted their price objective on shares of 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. Truist Financial boosted 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 note on Tuesday, November 12th. Leerink Partners boosted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th.

Wave Life Sciences Stock Down 2.8 %

Shares of WVE stock opened at $10.99 on Friday. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74. The firm’s 50-day simple moving average is $13.69 and its two-hundred day simple moving average is $9.96.

Insider Buying and Selling

In other Wave Life Sciences news, insider Chris Francis sold 36,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $16.00, for a total transaction of $576,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 50,000 shares of the company’s 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 transaction, the chief executive officer now owns 217,351 shares in the company, valued at approximately $3,260,265. This trade represents a 18.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,234 shares of company stock worth $2,059,671. Insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 valued at $37,000 after purchasing an additional 856 shares in the last quarter. Profund Advisors LLC purchased a new position in Wave Life Sciences in the 2nd quarter valued at $53,000. Principal Financial Group Inc. purchased a new position in Wave Life Sciences in the 2nd quarter valued at $74,000. Mackenzie Financial Corp lifted its holdings in Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Wave Life Sciences in the 3rd quarter valued at $98,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.