Analysts Set WAVE Life Sciences Ltd. (NASDAQ:WVE) Price Target at $31.67

WAVE Life Sciences Ltd. (NASDAQ:WVE) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $31.6667.

A number of brokerages have recently commented on WVE. Cantor Fitzgerald lifted their price target on WAVE Life Sciences from $12.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, October 8th. B. Riley boosted their price objective on WAVE Life Sciences from $19.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Raymond James Financial restated an “outperform” rating and issued a $21.00 target price on shares of WAVE Life Sciences in a research note on Monday, December 8th. Finally, Morgan Stanley set a $28.00 price target on shares of WAVE Life Sciences in a research note on Monday, December 8th.

Insiders Place Their Bets

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 20,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $13.47, for a total transaction of $269,400.00. Following the sale, the director directly owned 275,217 shares of the company’s stock, valued at $3,707,172.99. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Francis sold 441,031 shares of WAVE Life Sciences stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $14.57, for a total transaction of $6,425,821.67. Following the completion of the transaction, the insider owned 25,000 shares of the company’s stock, valued at $364,250. This represents a 94.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 902,742 shares of company stock worth $13,313,763 in the last ninety days. 23.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. lifted its position in WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after buying an additional 9,135 shares during the period. Russell Investments Group Ltd. lifted its holdings in WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after acquiring an additional 9,284 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of WAVE Life Sciences by 18.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after purchasing an additional 1,802 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after acquiring an additional 3,609 shares during the period. Finally, Prudential Financial Inc. bought a new stake in WAVE Life Sciences during the second quarter valued at about $80,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Stock Down 4.0%

WVE opened at $17.15 on Friday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -22.87 and a beta of -1.72. WAVE Life Sciences has a twelve month low of $5.28 and a twelve month high of $21.73. The company has a 50-day simple moving average of $10.91 and a 200 day simple moving average of $8.93.

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 net margin of 111.64% and a negative return on equity of 75.61%. The firm had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. Sell-side analysts anticipate that WAVE Life Sciences will post -1.14 EPS for the current fiscal year.

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.