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

WAVE Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 115.36% from the company’s previous close.

A number of other equities research analysts also recently commented on WVE. Citigroup lifted their price target 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. Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a research note on Monday, December 8th. UBS Group set a $32.00 price target on WAVE Life Sciences in a report on Tuesday, December 16th. B. Riley Financial raised their price objective on WAVE Life Sciences from $19.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.00.

WAVE Life Sciences Trading Down 9.3%

NASDAQ:WVE opened at $13.93 on Monday. WAVE Life Sciences has a twelve month low of $5.28 and a twelve month high of $21.73. The company has a market capitalization of $2.33 billion, a P/E ratio of -11.42 and a beta of -1.78. The firm has a 50-day moving average price of $14.45 and a two-hundred day moving average price of $10.82.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The company had revenue of $17.25 million for the quarter. WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 140.75%. On average, equities research analysts predict that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insider Activity at WAVE Life Sciences

In other news, CFO Kyle Moran sold 3,588 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $48,258.60. Following the transaction, the chief financial officer directly owned 134,385 shares in the company, valued at $1,807,478.25. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul Bolno sold 10,480 shares of WAVE Life Sciences stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.45, for a total value of $140,956.00. Following the completion of the transaction, the chief executive officer directly owned 275,520 shares in the company, valued at $3,705,744. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 948,375 shares of company stock valued at $14,112,151 over the last three months. Insiders own 23.98% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

Several large investors have recently made changes to their positions in WVE. GSK plc purchased a new position in shares of WAVE Life Sciences in the 4th quarter valued at $310,177,000. Adage Capital Partners GP L.L.C. increased its holdings in WAVE Life Sciences by 20.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after purchasing an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in WAVE Life Sciences by 83.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after purchasing an additional 3,362,880 shares during the period. Darwin Global Management Ltd. acquired a new position in shares of WAVE Life Sciences during the fourth quarter worth about $125,168,000. Finally, Federated Hermes Inc. boosted its position in shares of WAVE Life Sciences by 26.5% in the fourth quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock worth $80,657,000 after buying an additional 993,827 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.