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

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $31.6667.

Several brokerages recently issued reports on WVE. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, October 8th. Royal Bank Of Canada raised WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $9.00 to $27.00 in a research report on Monday, December 8th. Oppenheimer lifted their price target on WAVE Life Sciences from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. Raymond James Financial reissued an “outperform” rating and issued a $21.00 price target on shares of WAVE Life Sciences in a research report on Monday, December 8th. Finally, Wells Fargo & Company upped their price objective on WAVE Life Sciences from $16.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th.

Insider Buying and Selling at WAVE Life Sciences

In other news, CFO Kyle Moran sold 50,036 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $20.03, for a total value of $1,002,221.08. Following the sale, the chief financial officer directly owned 89,218 shares in the company, valued at approximately $1,787,036.54. This trade represents a 35.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory L. Verdine sold 20,000 shares of WAVE Life Sciences stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $13.47, for a total transaction of $269,400.00. Following the completion of the transaction, the director directly owned 275,217 shares in the company, valued at approximately $3,707,172.99. The trade was a 6.77% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 912,117 shares of company stock valued at $13,464,044. 23.98% of the stock is currently owned by corporate insiders.

Institutional Trading of WAVE Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtus Investment Advisers LLC boosted its position in shares of WAVE Life Sciences by 10.2% in the 2nd quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock worth $85,000 after purchasing an additional 1,210 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in WAVE Life Sciences by 18.7% during the 2nd 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 in the last quarter. Velan Capital Investment Management LP raised its stake in WAVE Life Sciences by 15.4% in the second quarter. Velan Capital Investment Management LP now owns 15,000 shares of the company’s stock valued at $98,000 after buying an additional 2,000 shares during the last quarter. Matisse Capital boosted its holdings in WAVE Life Sciences by 17.9% in the third quarter. Matisse Capital now owns 13,193 shares of the company’s stock worth $97,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in WAVE Life Sciences by 8.2% in 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. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Price Performance

NASDAQ:WVE opened at $13.94 on Thursday. WAVE Life Sciences has a 1-year low of $5.28 and a 1-year high of $21.73. The company has a 50-day moving average of $13.16 and a 200 day moving average of $9.81. The firm has a market cap of $2.33 billion, a PE ratio of -18.59 and a beta of -1.82.

WAVE Life Sciences (NASDAQ:WVE) last posted 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 net margin of 111.64% and a negative return on equity of 75.61%. The business had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. Sell-side analysts anticipate that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

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.