WAVE Life Sciences (NASDAQ:WVE) Stock Rating Lowered by Wall Street Zen

WAVE Life Sciences (NASDAQ:WVE) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other analysts have also recently issued reports about the company. Citigroup raised their price target on WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. HC Wainwright raised their target price on WAVE Life Sciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Leerink Partners restated an “outperform” rating on shares of WAVE Life Sciences in a research note on Monday, December 8th. B. Riley increased their price target on shares of WAVE Life Sciences from $19.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, UBS Group set a $32.00 price objective on shares of WAVE Life Sciences in a report on Tuesday, December 16th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

WAVE Life Sciences Stock Down 6.2%

Shares of WAVE Life Sciences stock opened at $15.95 on Friday. WAVE Life Sciences has a 52-week low of $5.28 and a 52-week high of $21.73. The company has a market capitalization of $2.67 billion, a P/E ratio of -21.27 and a beta of -1.82. The company has a 50 day moving average of $11.48 and a 200 day moving average of $9.14.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $7.61 million during the quarter, compared to analyst estimates of $9.85 million. WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. As a group, research analysts anticipate that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 20,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $13.47, for a total transaction of $269,400.00. Following the transaction, the director directly owned 275,217 shares of the company’s stock, valued at approximately $3,707,172.99. This trade represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Francis sold 441,031 shares of WAVE Life Sciences stock in a transaction 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 in the company, valued at approximately $364,250. This represents a 94.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 902,742 shares of company stock valued at $13,313,763. 23.98% of the stock is owned by insiders.

Institutional Trading of WAVE Life Sciences

Several hedge funds have recently made changes to their positions in WVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of WAVE Life Sciences by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock worth $463,000 after acquiring an additional 4,957 shares during the period. Goldman Sachs Group Inc. boosted its holdings in WAVE Life Sciences by 3.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock valued at $4,506,000 after purchasing an additional 20,624 shares in the last quarter. Ascent Group LLC acquired a new position in WAVE Life Sciences during the 1st quarter worth approximately $83,000. Strs Ohio purchased a new position in shares of WAVE Life Sciences during the 1st quarter worth approximately $406,000. Finally, Rhumbline Advisers raised its stake in shares of WAVE Life Sciences by 6.3% during the 1st quarter. Rhumbline Advisers now owns 132,700 shares of the company’s stock worth $1,072,000 after buying an additional 7,860 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

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.