WAVE Life Sciences Ltd. (NASDAQ:WVE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $21.0833.

WVE has been the subject of several research analyst reports. Citigroup started coverage on shares of WAVE Life Sciences in a research report on Wednesday, July 16th. They set a “buy” rating and a $16.00 price target for the company. Canaccord Genuity Group began coverage on WAVE Life Sciences in a research note on Monday, August 4th. They issued a “buy” rating and a $19.00 price objective on the stock. B. Riley reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, September 4th. Wells Fargo & Company assumed coverage on shares of WAVE Life Sciences in a research report on Monday, October 20th. They issued an “overweight” rating and a $18.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $12.00 target price on shares of WAVE Life Sciences in a report on Monday, October 27th.

Insider Transactions at WAVE Life Sciences

In other news, CEO Paul Bolno sold 217,351 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $10.10, for a total value of $2,195,245.10. Following the completion of the sale, the chief executive officer owned 121,000 shares in the company, valued at approximately $1,222,100. This trade represents a 64.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christian O. Henry sold 9,670 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8.81, for a total value of $85,192.70. Following the transaction, the director directly owned 29,645 shares in the company, valued at $261,172.45. This trade represents a 24.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 237,021 shares of company stock valued at $2,380,438 over the last quarter. Company insiders own 23.98% of the company’s stock.

Hedge Funds Weigh In On WAVE Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in WVE. Federated Hermes Inc. grew its position in shares of WAVE Life Sciences by 678,144.7% during the third quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after buying an additional 3,750,140 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in WAVE Life Sciences by 30.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock valued at $101,133,000 after acquiring an additional 2,894,396 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in WAVE Life Sciences by 35.3% during the 2nd quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company’s stock worth $21,422,000 after acquiring an additional 859,160 shares in the last quarter. Stempoint Capital LP increased its position in shares of WAVE Life Sciences by 902.2% in the 2nd quarter. Stempoint Capital LP now owns 900,338 shares of the company’s stock worth $5,852,000 after purchasing an additional 810,505 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of WAVE Life Sciences by 33.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,569,015 shares of the company’s stock valued at $10,199,000 after purchasing an additional 390,078 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

WAVE Life Sciences Price Performance

WVE opened at $7.86 on Friday. WAVE Life Sciences has a 12 month low of $5.28 and a 12 month high of $16.74. The business has a 50-day moving average of $7.58 and a two-hundred day moving average of $7.54. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.73 and a beta of -1.44.

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.