Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $17.00 by Analysts at JPMorgan Chase & Co.

Wave Life Sciences (NASDAQ:WVE) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $13.00 to $17.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.32% from the stock’s previous close.

WVE has been the subject of a number of other research reports. B. Riley upped their target price on shares of Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. 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. Leerink Partners upped their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research report on Thursday. Finally, Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $13.00 to $22.00 in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Wave Life Sciences Stock Up 4.4 %

Shares of WVE traded up $0.65 during mid-day trading on Thursday, hitting $15.55. 996,410 shares of the company traded hands, compared to its average volume of 1,068,566. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $15.92. The business has a 50 day moving average of $6.72 and a 200 day moving average of $6.10. The company has a market capitalization of $1.90 billion, a PE ratio of -29.90 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The company had revenue of $19.69 million during the quarter, compared to analysts’ expectations of $24.80 million. During the same quarter in the previous year, the company earned ($0.20) EPS. As a group, research analysts expect that Wave Life Sciences will post -1.02 EPS for the current fiscal year.

Insider Activity

In related news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Paul Bolno sold 48,366 shares of the firm’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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction 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 completion of the transaction, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC increased its position in shares of Wave Life Sciences by 62.2% during the second quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after purchasing an additional 348,300 shares during the period. Mackenzie Financial Corp boosted its holdings in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Wave Life Sciences by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock valued at $698,000 after buying an additional 4,914 shares during the last quarter. Millennium Management LLC increased its stake in shares of 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 buying an additional 28,690 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Wave Life Sciences by 26.3% during the second quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock worth $167,000 after acquiring an additional 6,973 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.