Wave Life Sciences Ltd. (NASDAQ:WVE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have been assigned an average recommendation of “Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.22.

Several brokerages have recently commented on WVE. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Royal Bank of Canada increased their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research report on Monday, October 21st. Finally, Mizuho increased their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st.

Insider Buying and Selling

In other news, CEO Paul Bolno sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 217,351 shares of the company’s stock, valued at approximately $3,260,265. This represents a 18.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after acquiring an additional 856 shares in the last quarter. KBC Group NV acquired a new position in shares of Wave Life Sciences in the fourth quarter valued at $67,000. Mackenzie Financial Corp lifted its holdings in shares of Wave Life Sciences by 13.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares during the period. Point72 DIFC Ltd bought a new position in Wave Life Sciences during the third quarter worth about $98,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Wave Life Sciences in the 3rd quarter valued at $123,000. Institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Trading Up 4.8 %

NASDAQ:WVE opened at $10.91 on Thursday. The business’s 50-day simple moving average is $12.55 and its 200 day simple moving average is $10.68. Wave Life Sciences has a one year low of $3.50 and a one year high of $16.74.

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.