Analysts Set WAVE Life Sciences Ltd. (NASDAQ:WVE) Price Target at $33.73

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.7333.

WVE has been the topic of several research reports. Oppenheimer raised their target price on shares of WAVE Life Sciences from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a research note on Monday, December 8th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of WAVE Life Sciences in a report on Monday, March 2nd. Truist Financial raised their price target on WAVE Life Sciences from $36.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Cantor Fitzgerald lifted their price objective on WAVE Life Sciences from $34.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th.

Insider Transactions at WAVE Life Sciences

In other news, insider Chris Francis sold 33,194 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $499,569.70. Following the completion of the sale, the insider owned 61,867 shares of the company’s stock, valued at $931,098.35. This represents a 34.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chandra Vargeese sold 3,228 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $43,416.60. Following the completion of the transaction, the insider owned 408,246 shares in the company, valued at $5,490,908.70. This trade represents a 0.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,748 shares of company stock worth $907,809 in the last ninety days. Insiders own 23.98% of the company’s stock.

Institutional Trading of WAVE Life Sciences

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in WAVE Life Sciences by 9.5% in the first 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 period. Goldman Sachs Group Inc. grew its position in shares of 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 acquiring an additional 20,624 shares during the period. Teacher Retirement System of Texas grew its position in shares of WAVE Life Sciences by 8.2% during the 2nd 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of WAVE Life Sciences by 93.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,097 shares of the company’s stock worth $235,000 after purchasing an additional 17,424 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of WAVE Life Sciences by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,759,381 shares of the company’s stock worth $17,938,000 after purchasing an additional 166,982 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Stock Performance

WVE opened at $13.02 on Friday. The stock has a market capitalization of $2.45 billion, a P/E ratio of -10.67 and a beta of -1.77. The company’s 50-day simple moving average is $13.65 and its two-hundred day simple moving average is $11.09. WAVE Life Sciences has a 52-week low of $5.28 and a 52-week high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). WAVE Life Sciences had a negative return on equity of 85.69% and a negative net margin of 478.35%.The company had revenue of $17.25 million during the quarter, compared to the consensus estimate of $15.68 million. Research analysts forecast that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

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.