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

Wave Life Sciences (NASDAQ:WVE) had its price objective hoisted by Royal Bank of Canada from $7.00 to $15.00 in a research note released on Monday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Mizuho reiterated an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. Leerink Partners upped their price target on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.44.

Wave Life Sciences Trading Down 1.1 %

Shares of NASDAQ:WVE opened at $14.67 on Monday. The stock has a market capitalization of $1.80 billion, a PE ratio of -28.21 and a beta of -1.10. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $15.92. The firm has a fifty day moving average price of $7.66 and a 200 day moving average price of $6.41.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million for 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 quarter last year, the company posted ($0.20) EPS. On average, sell-side analysts forecast that Wave Life Sciences will post -1 earnings per share for the current fiscal year.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred 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 approximately $2,075,361.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at $177,993. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 364,822 shares of company stock worth $4,645,768 over the last three months. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position 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 buying an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the last quarter. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences in the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in Wave Life Sciences during the 2nd quarter worth approximately $74,000. Finally, Mackenzie Financial Corp increased its holdings in Wave Life Sciences by 13.6% during 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. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Company Profile

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.