WAVE Life Sciences (NASDAQ:WVE) Given New $19.00 Price Target at Citigroup

WAVE Life Sciences (NASDAQ:WVE) had its target price lowered by Citigroup from $24.00 to $19.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also commented on WVE. Wells Fargo & Company upped their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Wedbush decreased their target price on WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday. Zacks Research upgraded WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. B. Riley Financial cut their price target on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.88.

WAVE Life Sciences Trading Down 4.3%

Shares of NASDAQ WVE opened at $5.51 on Friday. The firm has a 50 day moving average of $5.98 and a 200 day moving average of $8.98. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.06 and a beta of -1.29. WAVE Life Sciences has a 12-month low of $5.02 and a 12-month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 52.61%. The business had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $7.45 million. Sell-side analysts predict that WAVE Life Sciences will post -1.1 EPS for the current year.

Institutional Trading of WAVE Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its position in shares of WAVE Life Sciences by 6,729.0% during 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 during the period. Smartleaf Asset Management LLC boosted its holdings in 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 buying an additional 1,942 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in WAVE Life Sciences in the 4th quarter worth $82,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in WAVE Life Sciences by 32.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after buying an additional 1,972 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in WAVE Life Sciences by 1,441.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after buying an additional 9,284 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

WAVE Life Sciences News Summary

Here are the key news stories impacting WAVE Life Sciences this week:

• Positive Sentiment: WAVE said dosing is underway in the Phase 2a multidose portion of its INLIGHT trial evaluating WVE-007, an INHBE GalNAc-siRNA treatment, in people with obesity and related conditions. The study could also support future development in MASH, type 2 diabetes and other cardiometabolic diseases. WAVE Life Sciences Second-Quarter Results and Business Update
• Positive Sentiment: Citigroup maintained a Buy rating despite lowering its price target from $24 to $19, implying significant potential upside from the current trading level. Benzinga analyst update
• Positive Sentiment: Wedbush also retained an Outperform rating while reducing its target from $15 to $12, indicating analysts remain constructive on WVE’s pipeline despite lower near-term valuation expectations. The Fly analyst update
• Negative Sentiment: Second-quarter adjusted loss was $0.34 per share, worse than the $0.31 consensus estimate and the $0.31 loss reported a year earlier. WAVE Life Sciences Q2 Earnings Report
• Negative Sentiment: Revenue of $2.27 million substantially missed analysts’ $6.53 million expectation, reinforcing concerns about the company’s limited current commercial revenue and ongoing losses. WAVE Life Sciences Earnings Report
• Negative Sentiment: The reductions in both analyst price targets suggest expectations for WVE’s near-term valuation have moderated, even though the firms kept bullish ratings.

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.