Wave Life Sciences Ltd (NASDAQ:WVE) Receives Average Recommendation of “Buy” from Analysts

Shares of Wave Life Sciences Ltd (NASDAQ:WVE) have been given an average recommendation of “Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $22.75.

WVE has been the subject of a number of research reports. ValuEngine lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. BidaskClub raised Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Svb Leerink lowered Wave Life Sciences from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $33.00 to $10.00 in a research note on Tuesday, December 31st. HC Wainwright decreased their price target on Wave Life Sciences from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Mizuho initiated coverage on Wave Life Sciences in a research note on Monday, December 30th. They set a “buy” rating and a $65.00 price target for the company.

In other news, Director Gregory L. Verdine sold 30,039 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.63, for a total value of $920,094.57. Following the completion of the sale, the director now owns 36,009 shares in the company, valued at $1,102,955.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chandra Vargeese sold 6,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $32.34, for a total value of $194,040.00. 39.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its holdings in shares of Wave Life Sciences by 209.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 7,422 shares of the company’s stock worth $59,000 after acquiring an additional 5,022 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Wave Life Sciences during the fourth quarter worth $94,000. Amia Capital LLP purchased a new stake in shares of Wave Life Sciences during the fourth quarter worth $165,000. California Public Employees Retirement System purchased a new stake in shares of Wave Life Sciences during the fourth quarter worth $309,000. Finally, Citigroup Inc. raised its holdings in shares of Wave Life Sciences by 1,711.0% during the fourth quarter. Citigroup Inc. now owns 46,234 shares of the company’s stock worth $371,000 after acquiring an additional 43,681 shares in the last quarter. Institutional investors own 90.26% of the company’s stock.

WVE stock traded up $0.11 on Friday, reaching $8.07. The company’s stock had a trading volume of 303,983 shares. Wave Life Sciences has a 52 week low of $6.89 and a 52 week high of $48.64. The firm has a fifty day moving average of $8.27 and a two-hundred day moving average of $20.01.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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