Royal Bank of Canada Boosts Wave Life Sciences (NASDAQ:WVE) Price Target to $15.00

Wave Life Sciences (NASDAQ:WVE) had its price objective lifted by Royal Bank of Canada from $7.00 to $15.00 in a research report report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other analysts have also recently issued reports on the company. Leerink Partners increased their target price on Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Raymond James raised Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.44.

Wave Life Sciences Trading Up 1.0 %

Shares of NASDAQ WVE opened at $14.82 on Monday. The stock has a market capitalization of $1.82 billion, a PE ratio of -28.50 and a beta of -1.10. The stock’s fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $6.47. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $15.92.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same period last year, the business posted ($0.20) EPS. On average, equities analysts predict that Wave Life Sciences will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Francis sold 208,836 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. Insiders sold 364,822 shares of company stock worth $4,645,768 in the last 90 days. Insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

A number of institutional investors have recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after buying an additional 856 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after buying an additional 2,451 shares during the last quarter. Profund Advisors LLC purchased a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $53,000. Principal Financial Group Inc. purchased a new position in shares of Wave Life Sciences during the 2nd quarter valued at about $74,000. Finally, Mackenzie Financial Corp raised its stake 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 valued at $79,000 after buying an additional 1,905 shares during the last quarter. Hedge funds and other 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.