Wave Life Sciences (NASDAQ:WVE) Shares Gap Up – Time to Buy?

Wave Life Sciences Ltd. (NASDAQ:WVE) gapped up before the market opened on Tuesday . The stock had previously closed at $10.48, but opened at $11.07. Wave Life Sciences shares last traded at $10.64, with a volume of 65,421 shares.

Wall Street Analyst Weigh In

WVE has been the subject of several recent research reports. B. Riley increased their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research note on Wednesday, November 13th. Truist Financial lifted their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Mizuho increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, StockNews.com cut Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.60.

Wave Life Sciences Stock Down 0.2 %

The company has a market cap of $1.60 billion, a P/E ratio of -9.45 and a beta of -1.09. The company has a fifty day moving average of $11.98 and a 200 day moving average of $10.98.

Institutional Trading of Wave Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $37,000 after purchasing an additional 856 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Wave Life Sciences during the 4th quarter valued at approximately $40,000. Quarry LP acquired a new position in Wave Life Sciences during the fourth quarter worth $62,000. KBC Group NV purchased a new position in shares of Wave Life Sciences in the fourth quarter worth about $67,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Wave Life Sciences during the 3rd quarter worth approximately $98,000. 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.