WAVE Life Sciences (NASDAQ:WVE) Upgraded by Wall Street Zen to Hold Rating

WAVE Life Sciences (NASDAQ:WVE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other analysts have also commented on the company. UBS Group set a $32.00 price objective on WAVE Life Sciences in a report on Tuesday, December 16th. Royal Bank Of Canada raised shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $9.00 to $27.00 in a report on Monday, December 8th. Citigroup increased their target price on WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a research report on Monday, December 8th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $21.00 price target on shares of WAVE Life Sciences in a research note on Monday, December 8th. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.67.

WAVE Life Sciences Trading Down 6.7%

WAVE Life Sciences stock opened at $13.84 on Friday. The firm has a market cap of $2.31 billion, a PE ratio of -18.45 and a beta of -1.82. WAVE Life Sciences has a 12 month low of $5.28 and a 12 month high of $21.73. The stock’s 50 day simple moving average is $12.15 and its two-hundred day simple moving average is $9.40.

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

Insider Transactions at WAVE Life Sciences

In other WAVE Life Sciences news, insider Chris Francis sold 9,375 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $16.03, for a total value of $150,281.25. Following the transaction, the insider directly owned 25,000 shares in the company, valued at $400,750. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Plc Gsk purchased 1,470,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was purchased at an average cost of $19.00 per share, with a total value of $27,930,000.00. Following the purchase, the insider owned 18,245,691 shares in the company, valued at approximately $346,668,129. This trade represents a 8.76% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 912,117 shares of company stock valued at $13,464,044 in the last three months. 23.98% of the stock is currently owned by corporate insiders.

Institutional Trading of WAVE Life Sciences

Several institutional investors have recently made changes to their positions in WVE. Bessemer Group Inc. grew its position in WAVE Life Sciences by 1,156.3% in the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after acquiring an additional 9,135 shares in the last quarter. Russell Investments Group Ltd. boosted its stake 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 valued at $73,000 after purchasing an additional 9,284 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after purchasing an additional 1,802 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after buying an additional 3,609 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in WAVE Life Sciences during the 2nd quarter worth approximately $80,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

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.