Cantor Fitzgerald Increases WAVE Life Sciences (NASDAQ:WVE) Price Target to $34.00

WAVE Life Sciences (NASDAQ:WVE) had its price target boosted by stock analysts at Cantor Fitzgerald from $12.00 to $34.00 in a report issued on Tuesday, Marketbeat Ratings reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 68.07% from the stock’s previous close.

Several other research analysts also recently commented on the company. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. B. Riley restated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, September 4th. UBS Group set a $30.00 price objective on WAVE Life Sciences in a report on Tuesday. Wells Fargo & Company increased their target price on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.46.

WAVE Life Sciences Price Performance

WAVE Life Sciences stock opened at $20.23 on Tuesday. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -26.97 and a beta of -1.72. The firm has a 50-day moving average of $8.27 and a two-hundred day moving average of $7.90. WAVE Life Sciences has a 1 year low of $5.28 and a 1 year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Monday, November 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%.The company had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. Research analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In other WAVE Life Sciences news, CFO Kyle Moran sold 210,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $14.77, for a total transaction of $3,101,700.00. Following the completion of the sale, the chief financial officer directly owned 89,218 shares of the company’s stock, valued at approximately $1,317,749.86. This represents a 70.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Adrian Rawcliffe sold 42,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $15.00, for a total transaction of $630,000.00. Following the completion of the sale, the director owned 12,700 shares in the company, valued at $190,500. This represents a 76.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 902,742 shares of company stock valued at $13,313,763 in the last three months. 23.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of WVE. Bessemer Group Inc. grew its position in WAVE Life Sciences by 1,156.3% during the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after purchasing an additional 9,135 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after buying an additional 9,284 shares during the last quarter. Ascent Group LLC acquired a new stake in shares of WAVE Life Sciences during the first quarter worth $83,000. Verdence Capital Advisors LLC purchased a new stake in shares of WAVE Life Sciences during the third quarter valued at $86,000. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of WAVE Life Sciences by 18.7% during the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after buying an additional 1,802 shares during the last quarter. 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.