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

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been given an average recommendation of “Buy” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.22.

WVE has been the topic of a number of research analyst reports. Mizuho upped their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, November 13th. B. Riley raised their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. Finally, StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th.

Insider Transactions at Wave Life Sciences

In related news, CEO Paul Bolno sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 217,351 shares of the company’s stock, valued at $3,260,265. The trade was a 18.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 453,690 shares of company stock valued at $6,425,883. 29.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Wave Life Sciences by 171.1% during the 3rd quarter. Barclays PLC now owns 159,241 shares of the company’s stock valued at $1,307,000 after purchasing an additional 100,498 shares during the last quarter. Geode Capital Management LLC increased its position in Wave Life Sciences by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock valued at $18,615,000 after buying an additional 283,419 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Wave Life Sciences in the third quarter valued at about $123,000. XTX Topco Ltd acquired a new stake in Wave Life Sciences in the third quarter worth about $126,000. Finally, Jane Street Group LLC grew its stake in shares of Wave Life Sciences by 33.3% during the third quarter. Jane Street Group LLC now owns 142,014 shares of the company’s stock worth $1,165,000 after acquiring an additional 35,472 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

Wave Life Sciences Trading Up 7.4 %

Wave Life Sciences stock opened at $14.45 on Wednesday. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $16.74. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -13.02 and a beta of -1.21. The firm has a 50 day moving average of $13.90 and a 200 day moving average of $8.81.

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.