WAVE Life Sciences Ltd. (NASDAQ:WVE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

WAVE Life Sciences Ltd. (NASDAQ:WVE) has been given a consensus rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and thirteen have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.6667.

A number of analysts have commented on WVE shares. Raymond James Financial reissued an “outperform” rating and set a $21.00 price objective on shares of WAVE Life Sciences in a report on Monday, December 8th. Canaccord Genuity Group lifted their target price on WAVE Life Sciences from $19.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Leerink Partners reiterated an “outperform” rating on shares of WAVE Life Sciences in a report on Monday, December 8th. Citigroup raised their price objective on WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Finally, Wells Fargo & Company lifted their price objective on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th.

WAVE Life Sciences Trading Down 2.6%

WAVE Life Sciences stock opened at $17.77 on Friday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -23.69 and a beta of -1.72. The firm’s fifty day moving average price is $10.52 and its two-hundred day moving average price is $8.77. 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 posted its earnings results on Monday, November 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate 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 business had revenue of $7.61 million for the quarter, compared to the consensus estimate of $9.85 million. On average, research analysts forecast that WAVE Life Sciences will post -1.14 EPS for the current year.

Insider Buying and Selling at WAVE Life Sciences

In other news, major shareholder Plc Gsk acquired 1,470,000 shares of WAVE Life Sciences stock in a transaction on Thursday, December 11th. The stock was acquired at an average cost of $19.00 per share, with a total value of $27,930,000.00. Following the transaction, the insider owned 18,245,691 shares of the company’s stock, valued at approximately $346,668,129. This trade represents a 8.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adrian Rawcliffe sold 42,000 shares of the 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 of the company’s stock, valued at approximately $190,500. This trade represents a 76.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 902,742 shares of company stock valued at $13,313,763 in the last quarter. 23.98% of the stock is owned by company insiders.

Institutional Trading of WAVE Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of WVE. Federated Hermes Inc. lifted its holdings in WAVE Life Sciences by 678,144.7% during the third quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after acquiring an additional 3,750,140 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of WAVE Life Sciences by 30.1% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock valued at $101,133,000 after purchasing an additional 2,894,396 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of WAVE Life Sciences by 35.3% during the 2nd quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company’s stock valued at $21,422,000 after purchasing an additional 859,160 shares during the last quarter. Stempoint Capital LP raised its stake in shares of WAVE Life Sciences by 902.2% during the 2nd quarter. Stempoint Capital LP now owns 900,338 shares of the company’s stock worth $5,852,000 after purchasing an additional 810,505 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in shares of WAVE Life Sciences by 1,489.5% in the 3rd quarter. Kennedy Capital Management LLC now owns 540,437 shares of the company’s stock worth $3,956,000 after buying an additional 506,437 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.