Wave Life Sciences (NASDAQ:WVE – Free Report) had its price target lifted by Royal Bank of Canada from $5.00 to $7.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.
WVE has been the subject of several other research reports. JPMorgan Chase & Co. started coverage on shares of Wave Life Sciences in a research note on Friday, September 27th. They issued an overweight rating and a $13.00 target price for the company. B. Riley raised their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. Mizuho restated an outperform rating and set a $19.00 price objective on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Finally, HC Wainwright raised their target price on Wave Life Sciences from $15.00 to $22.00 and gave the stock a buy rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $15.00.
Check Out Our Latest Stock Analysis on WVE
Wave Life Sciences Stock Down 4.4 %
Wave Life Sciences (NASDAQ:WVE – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. During the same period in the prior year, the company posted ($0.20) earnings per share. Analysts anticipate that Wave Life Sciences will post -1.04 EPS for the current year.
Insider Buying and Selling
In other news, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 $177,993. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the transaction, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade 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 owned by corporate insiders.
Institutional Investors Weigh In On Wave Life Sciences
Large investors have recently bought and sold shares of the business. Driehaus Capital Management LLC boosted its stake in Wave Life Sciences by 62.2% in the second quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after purchasing an additional 348,300 shares in the last quarter. Mackenzie Financial Corp lifted its position in 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 buying an additional 1,905 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Wave Life Sciences by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after acquiring an additional 4,914 shares during the last quarter. Millennium Management LLC increased its position in Wave Life Sciences by 1.8% in the 2nd quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock valued at $8,305,000 after acquiring an additional 28,690 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Wave Life Sciences by 26.3% in the 2nd quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock valued at $167,000 after acquiring an additional 6,973 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.
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.
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