WAVE Life Sciences (NASDAQ:WVE) Earns Buy Rating from HC Wainwright

WAVE Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $30.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 123.21% from the company’s current price.

Several other research analysts have also recently commented on WVE. Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a report on Monday, December 8th. Citigroup upped their price target on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. UBS Group set a $32.00 price objective on shares of WAVE Life Sciences in a research note on Tuesday, December 16th. Wedbush boosted their target price on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Bank of America initiated coverage on WAVE Life Sciences in a report on Thursday, February 5th. They issued a “buy” rating and a $38.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

WAVE Life Sciences Stock Down 3.0%

WVE opened at $13.44 on Monday. The firm has a market cap of $2.53 billion, a PE ratio of -11.02 and a beta of -1.77. The business has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $10.88. WAVE Life Sciences has a fifty-two week low of $5.28 and a fifty-two week high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, February 26th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 140.75%. The company had revenue of $17.25 million for the quarter, compared to analysts’ expectations of $15.68 million. On average, equities research analysts anticipate that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Activity at WAVE Life Sciences

In related news, Director Adrian Rawcliffe sold 42,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director owned 12,700 shares in the company, valued at approximately $190,500. The trade was a 76.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christian O. Henry sold 93,445 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,368,969.25. Following the completion of the sale, the director directly owned 12,700 shares of the company’s stock, valued at $186,055. The trade was a 88.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 948,375 shares of company stock worth $14,112,151. 23.98% of the stock is owned by company insiders.

Institutional Trading of WAVE Life Sciences

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in WAVE Life Sciences by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock worth $463,000 after buying an additional 4,957 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of WAVE Life Sciences by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock valued at $4,506,000 after acquiring an additional 20,624 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in WAVE Life Sciences by 8.2% during the second quarter. Teacher Retirement System of Texas now owns 28,955 shares of the company’s stock worth $188,000 after acquiring an additional 2,206 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in WAVE Life Sciences by 93.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,097 shares of the company’s stock valued at $235,000 after purchasing an additional 17,424 shares during the last quarter. Finally, Compass Rose Asset Management LP bought a new position in WAVE Life Sciences in the second quarter valued at approximately $650,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.