WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives $26.41 Average PT from Analysts

WAVE Life Sciences Ltd. (NASDAQ:WVE) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.4118.

WVE has been the subject of a number of research reports. Canaccord Genuity Group dropped their price objective 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. Truist Financial assumed coverage on shares of WAVE Life Sciences in a report on Wednesday, April 29th. They set a “buy” rating and a $15.00 target price on the stock. Wells Fargo & Company raised their price target on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Mizuho boosted their price target on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday.

WAVE Life Sciences Price Performance

Shares of WAVE Life Sciences stock opened at $5.73 on Thursday. The business has a 50-day moving average of $6.12 and a 200 day moving average of $9.55. WAVE Life Sciences has a 12 month low of $5.02 and a 12 month high of $21.73. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.41 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.21. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. Equities research analysts anticipate that WAVE Life Sciences will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On WAVE Life Sciences

Several large investors have recently bought and sold shares of WVE. Deutsche Bank AG boosted its position in shares of WAVE Life Sciences by 1.5% in the 4th quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock valued at $1,627,000 after purchasing an additional 1,441 shares during the period. AlphaCentric Advisors LLC grew its stake in WAVE Life Sciences by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock worth $212,000 after buying an additional 1,585 shares during the last quarter. First Trust Advisors LP increased its position in WAVE Life Sciences by 15.7% during the first quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock worth $98,000 after buying an additional 1,830 shares during the period. Smartleaf Asset Management LLC increased its position in WAVE Life Sciences by 645.2% during the fourth 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. Finally, 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 valued at $138,000 after buying an additional 1,972 shares during the last quarter. Hedge funds and other 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.