WAVE Life Sciences (NASDAQ:WVE) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a research report sent to investors on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $38.00 target price on the stock.

A number of other research firms have also weighed in on WVE. Citigroup upped their target price on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Royal Bank Of Canada upgraded shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $27.00 in a research report on Monday, December 8th. HC Wainwright increased their price objective on WAVE Life Sciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Leerink Partners reissued an “outperform” rating on shares of WAVE Life Sciences in a research note on Monday, December 8th. Finally, Wall Street Zen upgraded WAVE Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, January 11th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.69.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $12.75 on Thursday. WAVE Life Sciences has a fifty-two week low of $5.28 and a fifty-two week high of $21.73. The stock has a market cap of $2.13 billion, a PE ratio of -17.00 and a beta of -1.78. The stock has a fifty day moving average of $14.49 and a 200-day moving average of $10.22.

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

Insider Buying and Selling at WAVE Life Sciences

In other WAVE Life Sciences news, CFO Kyle Moran sold 50,036 shares of WAVE Life Sciences stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $20.03, for a total transaction of $1,002,221.08. Following the completion of the sale, the chief financial officer owned 89,218 shares of the company’s stock, valued at $1,787,036.54. The trade was a 35.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Francis sold 9,375 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $16.03, for a total transaction of $150,281.25. Following the sale, the insider owned 25,000 shares of the company’s stock, valued at approximately $400,750. The trade was a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 912,117 shares of company stock valued at $13,464,044. 23.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of WAVE Life Sciences by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after purchasing an additional 4,957 shares during the period. Goldman Sachs Group Inc. boosted its position in WAVE Life Sciences by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock valued at $4,506,000 after buying an additional 20,624 shares during the period. TD Asset Management Inc grew its holdings in WAVE Life Sciences by 16.3% in the 2nd quarter. TD Asset Management Inc now owns 179,608 shares of the company’s stock worth $1,167,000 after acquiring an additional 25,200 shares during the last quarter. Privium Fund Management B.V. grew its holdings in WAVE Life Sciences by 19.4% in the 2nd quarter. Privium Fund Management B.V. now owns 135,550 shares of the company’s stock worth $884,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of 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 valued at $188,000 after acquiring an additional 2,206 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.