Wave Life Sciences (NASDAQ:WVE) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $26.00 price objective on the stock.

Several other equities analysts have also commented on WVE. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, November 13th. Truist Financial upped their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. B. Riley raised their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Mizuho lifted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Wave Life Sciences Stock Performance

NASDAQ WVE opened at $10.56 on Tuesday. Wave Life Sciences has a 52-week low of $4.25 and a 52-week high of $16.74. The company has a fifty day moving average of $11.85 and a 200-day moving average of $11.01. The company 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Polar Asset Management Partners Inc. raised its position in shares of Wave Life Sciences by 14.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 557,323 shares of the company’s stock worth $6,894,000 after acquiring an additional 71,300 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Wave Life Sciences in the fourth quarter worth $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Wave Life Sciences by 14.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,238 shares of the company’s stock worth $2,044,000 after purchasing an additional 20,520 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Wave Life Sciences during the fourth quarter valued at $10,463,000. Finally, Velan Capital Investment Management LP bought a new stake in shares of Wave Life Sciences during the 4th quarter valued at $161,000. 89.73% of the stock is owned by hedge funds and other 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.