WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $27.25.

Several analysts have recently weighed in on WVE shares. Citigroup reduced their price target on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Mizuho boosted their price target on WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Wall Street Zen upgraded WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Wedbush boosted their price target on WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, Truist Financial started coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 target price on the stock.

WAVE Life Sciences Stock Performance

NASDAQ:WVE opened at $6.38 on Wednesday. The stock has a market cap of $1.23 billion, a P/E ratio of -6.02 and a beta of -1.32. The stock’s 50-day moving average is $7.80 and its 200-day moving average is $11.13. WAVE Life Sciences has a 1-year low of $5.02 and a 1-year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.21. The company had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. As a group, equities analysts forecast that WAVE Life Sciences will post -1.16 EPS for the current year.

Insider Activity

In other news, insider Chris Francis sold 33,194 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $15.05, for a total value of $499,569.70. Following the transaction, the insider owned 61,867 shares in the company, valued at approximately $931,098.35. The trade was a 34.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of WAVE Life Sciences by 29.5% in the 1st quarter. Bank of America Corp DE now owns 236,760 shares of the company’s stock worth $1,717,000 after purchasing an additional 53,905 shares during the period. ADAR1 Capital Management LLC acquired a new position in shares of WAVE Life Sciences in the 1st quarter worth approximately $326,000. California State Teachers Retirement System lifted its position in shares of WAVE Life Sciences by 34.8% in the 1st quarter. California State Teachers Retirement System now owns 145,206 shares of the company’s stock worth $1,053,000 after purchasing an additional 37,526 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of WAVE Life Sciences by 31.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 240,983 shares of the company’s stock worth $1,747,000 after purchasing an additional 58,255 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of WAVE Life Sciences by 23.0% in the 1st quarter. Quantinno Capital Management LP now owns 47,885 shares of the company’s stock worth $347,000 after purchasing an additional 8,960 shares during the period. Institutional investors and hedge funds 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.