Wave Life Sciences (NASDAQ:WVE) PT Raised to $19.00 at B. Riley

Wave Life Sciences (NASDAQ:WVE) had its price target raised by analysts at B. Riley from $11.00 to $19.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 125.92% from the stock’s previous close.

WVE has been the topic of several other research reports. Mizuho reiterated an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. HC Wainwright lifted their price objective on Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Wave Life Sciences in a research note on Friday, September 27th. They set an “overweight” rating and a $13.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Wave Life Sciences Price Performance

WVE stock opened at $8.41 on Thursday. The company has a market cap of $1.03 billion, a P/E ratio of -16.17 and a beta of -1.10. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $9.92. The stock’s fifty day moving average price is $6.25 and its 200-day moving average price is $5.92.

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 analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. As a group, analysts expect that Wave Life Sciences will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Paul Bolno sold 48,366 shares of the 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 sale, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at $177,993. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by insiders.

Institutional Trading of Wave Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Artal Group S.A. boosted its holdings in shares of Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after purchasing an additional 1,044,000 shares during the period. Emerald Advisers LLC bought a new position in shares of Wave Life Sciences during the 2nd quarter worth $12,441,000. Price T Rowe Associates Inc. MD increased its stake in shares of Wave Life Sciences by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after buying an additional 233,891 shares during the period. Vanguard Group Inc. raised its holdings in shares of Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Wave Life Sciences in the second quarter worth about $9,086,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.