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

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.4118.

A number of equities research analysts have commented on WVE shares. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Monday, April 20th. Mizuho increased their target price on WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Truist Financial assumed 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. Finally, Wells Fargo & Company lifted their price target on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th.

WAVE Life Sciences Price Performance

WVE stock opened at $5.91 on Thursday. The company’s 50-day moving average is $6.20 and its 200-day moving average is $9.80. The stock has a market capitalization of $1.14 billion, a PE ratio of -5.58 and a beta of -1.29. 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 issued its earnings results on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%.The business had revenue of $38.25 million during the quarter, compared to analyst estimates of $8.45 million. On average, analysts anticipate that WAVE Life Sciences will post -1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of WAVE Life Sciences by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock worth $463,000 after acquiring an additional 4,957 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in WAVE Life Sciences by 3.8% in the 1st 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 in the last quarter. Rhumbline Advisers boosted its stake in WAVE Life Sciences by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock valued at $1,057,000 after purchasing an additional 29,899 shares during the last quarter. Prudential Financial Inc. acquired a new position in WAVE Life Sciences during the 2nd quarter valued at about $80,000. Finally, Norges Bank bought a new stake in WAVE Life Sciences during the 2nd quarter worth approximately $650,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.