Wave Life Sciences (NASDAQ:WVE) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a sell rating to a hold rating in a research report released on Thursday.

Other equities analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, November 13th. B. Riley increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 4th. Truist Financial increased their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Mizuho increased their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $10.56 on Thursday. The company’s 50 day simple moving average is $11.85 and its 200 day simple moving average is $11.01. Wave Life Sciences has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The firm has a market capitalization of $1.61 billion, a P/E ratio of -9.51 and a beta of -1.09.

Institutional Investors Weigh In On Wave Life Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. Maverick Capital Ltd. raised its holdings in shares of Wave Life Sciences by 31.0% during the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after acquiring an additional 2,378,159 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Wave Life Sciences by 63.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,098,866 shares of the company’s stock worth $63,074,000 after acquiring an additional 1,972,262 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth $20,545,000. Polar Capital Holdings Plc acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth $12,370,000. Finally, FMR LLC raised its holdings in shares of Wave Life Sciences by 174.5% during the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock worth $12,630,000 after acquiring an additional 979,110 shares during the period. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.