WAVE Life Sciences Ltd. (NASDAQ:WVE) Stock Has Average Target Price of $22.31 According to Analysts

WAVE Life Sciences Ltd. (NASDAQ:WVE) has been given an average recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $21.65.

A number of equities research analysts have recently weighed in on WVE shares. Zacks Research cut WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. LADENBURG THALM/SH SH began coverage on WAVE Life Sciences in a research report on Thursday. They issued a “buy” rating and a $10.00 target price on the stock. New Street Research set a $13.00 target price on WAVE Life Sciences in a research note on Thursday, June 11th. UBS Group set a $13.00 price target on WAVE Life Sciences in a research report on Monday, August 3rd. Finally, Wall Street Zen cut WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st.

Insider Activity

In related news, Director Adrian Rawcliffe sold 12,700 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Heidi Wagner sold 7,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the transaction, the director owned 44,930 shares of the company’s stock, valued at $270,029.30. This represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,564 shares of company stock valued at $132,476 in the last ninety days. Corporate insiders own 24.30% of the company’s stock.

Institutional Trading of WAVE Life Sciences

A number of institutional investors have recently made changes to their positions in WVE. AlphaGrep UK Ltd acquired a new position in shares of WAVE Life Sciences during the second quarter valued at approximately $78,000. Caitong International Asset Management Co. Ltd acquired a new stake in WAVE Life Sciences in the fourth quarter worth approximately $82,000. First Trust Advisors LP lifted its position in WAVE Life Sciences by 15.7% in the first quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock worth $98,000 after purchasing an additional 1,830 shares during the period. Seven Fleet Capital Management LP acquired a new stake in WAVE Life Sciences in the second quarter worth approximately $111,000. Finally, Chicago Partners Investment Group LLC bought a new position in WAVE Life Sciences during the 1st quarter valued at $124,000. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Stock Performance

WAVE Life Sciences stock opened at $3.78 on Tuesday. WAVE Life Sciences has a one year low of $3.56 and a one year high of $21.73. The company has a 50-day simple moving average of $4.94 and a 200-day simple moving average of $6.25. The firm has a market capitalization of $744.85 million, a P/E ratio of -3.47 and a beta of -1.43.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The firm had revenue of $2.27 million for the quarter, compared to analyst estimates of $7.45 million. As a group, sell-side analysts forecast that WAVE Life Sciences will post -1.12 earnings per share for the current year.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. is a clinical-stage biotechnology company developing RNA medicines for genetic and other serious diseases. The company uses its proprietary oligonucleotide and RNA-editing technologies to target disease-causing genetic instructions, with the goal of selectively correcting, reducing, or modifying RNA activity.

Its development programs have included investigational therapies for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy, and Huntington’s disease.