Wave Life Sciences (NASDAQ:WVE) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Wave Life Sciences (NASDAQ:WVE) in a report released on Tuesday, MarketBeat reports. The firm issued an overweight rating and a $10.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Wave Life Sciences’ FY2025 earnings at ($1.09) EPS.

WVE has been the subject of several other reports. StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Jefferies Financial Group began coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective for the company. Wedbush assumed coverage on shares of Wave Life Sciences in a research report on Tuesday, April 8th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.17.

Wave Life Sciences Trading Up 2.8 %

NASDAQ WVE opened at $7.94 on Tuesday. The firm has a market capitalization of $1.22 billion, a PE ratio of -7.15 and a beta of -0.93. The business’s 50-day moving average price is $8.21 and its two-hundred day moving average price is $11.47. Wave Life Sciences has a 12 month low of $4.25 and a 12 month high of $16.74.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.34. The business had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. As a group, analysts forecast that Wave Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now owns 338,351 shares of the company’s stock, valued at $3,238,019.07. This represents a 33.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christian O. Henry sold 10,500 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.77, for a total transaction of $102,585.00. Following the transaction, the director now owns 16,115 shares of the company’s stock, valued at $157,443.55. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wave Life Sciences

A number of large investors have recently modified their holdings of WVE. Driehaus Capital Management LLC increased its position in shares of Wave Life Sciences by 14.6% during the 4th quarter. Driehaus Capital Management LLC now owns 6,712,449 shares of the company’s stock valued at $83,033,000 after purchasing an additional 853,589 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Wave Life Sciences by 63.1% in 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 buying an additional 1,972,262 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Wave Life Sciences by 10.2% during the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company’s stock worth $39,368,000 after acquiring an additional 294,956 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of Wave Life Sciences by 9.7% during the fourth quarter. Emerald Advisers LLC now owns 3,162,369 shares of the company’s stock worth $39,119,000 after acquiring an additional 280,859 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Wave Life Sciences by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 2,470,751 shares of the company’s stock worth $30,571,000 after acquiring an additional 201,087 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.