Analysts Set WAVE Life Sciences Ltd. (NASDAQ:WVE) PT at $27.88

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and fourteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.50.

Several research analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Monday, April 20th. Bank of America cut their price target on shares of WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Wedbush raised their target price on shares of WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Citigroup lowered their price target on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday. Finally, HC Wainwright lowered their price target on shares of WAVE Life Sciences from $30.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th.

WAVE Life Sciences Stock Up 1.5%

Shares of WVE stock opened at $7.29 on Friday. The firm has a fifty day moving average of $9.78 and a 200-day moving average of $11.25. WAVE Life Sciences has a 12-month low of $5.02 and a 12-month high of $21.73. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -6.88 and a beta of -1.32.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.21. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. On average, equities analysts expect that WAVE Life Sciences will post -1.16 EPS for the current year.

Insider Activity

In other WAVE Life Sciences news, CEO Paul Bolno sold 10,480 shares of the firm’s 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 transaction, the chief executive officer directly owned 275,520 shares of the company’s stock, valued at $3,705,744. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Francis sold 33,194 shares of the firm’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 transaction, the insider directly owned 61,867 shares in the company, valued at approximately $931,098.35. This represents a 34.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 52,373 shares of company stock valued at $757,527 in the last 90 days. 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. CWM LLC boosted its stake in shares of WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after purchasing an additional 2,086 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of WAVE Life Sciences by 645.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after purchasing an additional 1,942 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of WAVE Life Sciences in the 4th quarter worth approximately $82,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in WAVE Life Sciences by 32.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after purchasing an additional 1,972 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of WAVE Life Sciences by 1,156.3% in the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after acquiring an additional 9,135 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.