WAVE Life Sciences (NASDAQ:WVE) Given New $34.00 Price Target at Cantor Fitzgerald

WAVE Life Sciences (NASDAQ:WVE) had its price target boosted by Cantor Fitzgerald from $12.00 to $34.00 in a report published on Tuesday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company raised their target price on WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada upgraded shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $9.00 to $27.00 in a research report on Monday. Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a report on Monday. Raymond James Financial reissued an “outperform” rating and issued a $21.00 price target on shares of WAVE Life Sciences in a report on Monday. Finally, UBS Group set a $30.00 price target on shares of WAVE Life Sciences in a report on Tuesday. Twelve research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.46.

WAVE Life Sciences Trading Up 15.1%

WVE opened at $21.31 on Tuesday. WAVE Life Sciences has a 12 month low of $5.28 and a 12 month high of $21.73. The company has a market cap of $3.56 billion, a PE ratio of -28.41 and a beta of -1.72. The company has a 50 day moving average of $8.01 and a 200 day moving average of $7.81.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%.The company had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. Research analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Activity at WAVE Life Sciences

In related news, Director Adrian Rawcliffe sold 16,115 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $6.79, for a total transaction of $109,420.85. Following the transaction, the director directly owned 12,700 shares of the company’s stock, valued at approximately $86,233. This trade represents a 55.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 23.98% of the company’s stock.

Institutional Trading of WAVE Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. boosted its stake in shares of WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after purchasing an additional 9,135 shares during the period. Russell Investments Group Ltd. raised its holdings in WAVE Life Sciences by 1,441.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after buying an additional 9,284 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in WAVE Life Sciences by 18.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after buying an additional 1,802 shares during the period. Tower Research Capital LLC TRC grew its holdings in WAVE Life Sciences by 44.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in WAVE Life Sciences in the 2nd quarter worth $80,000. 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.