Brokerages Set WAVE Life Sciences Ltd. (NASDAQ:WVE) Price Target at $27.25

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and fourteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $27.25.

A number of research analysts recently commented on WVE shares. Cantor Fitzgerald increased their price target on shares of WAVE Life Sciences from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Mizuho increased their price target on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Monday, April 20th. Finally, Canaccord Genuity Group lowered their price target on shares of WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 30th.

WAVE Life Sciences Trading Down 9.1%

Shares of NASDAQ:WVE opened at $5.69 on Wednesday. WAVE Life Sciences has a 12 month low of $5.02 and a 12 month high of $21.73. The company has a 50-day moving average price of $7.33 and a 200 day moving average price of $11.10. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -5.37 and a beta of -1.33.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. As a group, equities analysts forecast that WAVE Life Sciences will post -1.16 EPS for the current year.

Institutional Trading of WAVE Life Sciences

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in WAVE Life Sciences by 6,729.0% in the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after purchasing an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in WAVE Life Sciences by 645.2% in the fourth 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 last quarter. Caitong International Asset Management Co. Ltd bought a new stake in WAVE Life Sciences in the fourth quarter worth about $82,000. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 during the last quarter. Finally, Bessemer Group Inc. lifted its stake in WAVE Life Sciences by 1,156.3% in the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after purchasing an additional 9,135 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

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.