WAVE Life Sciences (NASDAQ:WVE) Price Target Raised to $52.00

WAVE Life Sciences (NASDAQ:WVE) had its target price upped by Canaccord Genuity Group from $43.00 to $52.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company decreased their price target on WAVE Life Sciences from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Leerink Partners reiterated an “outperform” rating on shares of WAVE Life Sciences in a research note on Monday, December 8th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of WAVE Life Sciences in a research report on Monday, March 2nd. Citigroup boosted their target price on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Finally, Oppenheimer upped their price target 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. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.73.

WAVE Life Sciences Price Performance

WAVE Life Sciences stock opened at $13.35 on Tuesday. WAVE Life Sciences has a 1-year low of $5.28 and a 1-year high of $21.73. The firm has a market capitalization of $2.51 billion, a P/E ratio of -10.94 and a beta of -1.77. The company’s 50-day moving average is $13.71 and its 200 day moving average is $11.05.

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

Insider Buying and Selling at WAVE Life Sciences

In related news, insider Chandra Vargeese sold 3,228 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $13.45, for a total value of $43,416.60. Following the completion of the transaction, the insider owned 408,246 shares of the company’s stock, valued at $5,490,908.70. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kyle Moran sold 3,588 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $48,258.60. Following the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at approximately $1,807,478.25. This represents a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,748 shares of company stock valued at $907,809. 23.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WAVE Life Sciences

Hedge funds have recently made changes to their positions in the stock. GSK plc bought a new stake in WAVE Life Sciences during the fourth quarter valued at about $310,177,000. Adage Capital Partners GP L.L.C. lifted its position in shares of WAVE Life Sciences by 20.0% during the second 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 buying an additional 2,500,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of WAVE Life Sciences by 83.1% during 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 buying an additional 3,362,880 shares during the last quarter. Darwin Global Management Ltd. bought a new stake in shares of WAVE Life Sciences in the 4th quarter valued at about $125,168,000. Finally, Federated Hermes Inc. boosted its holdings in shares of WAVE Life Sciences by 26.5% in the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock valued at $80,657,000 after buying an additional 993,827 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.