WAVE Life Sciences (NASDAQ:WVE) Trading Up 7.4% – Time to Buy?

WAVE Life Sciences Ltd. (NASDAQ:WVE)’s stock price shot up 7.4% during trading on Thursday . The stock traded as high as $6.26 and last traded at $6.2750. 2,747,967 shares were traded during mid-day trading, a decline of 34% from the average session volume of 4,141,080 shares. The stock had previously closed at $5.84.

Wall Street Analyst Weigh In

WVE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Monday, April 20th. Wall Street Zen upgraded shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. New Street Research set a $13.00 price objective on shares of WAVE Life Sciences in a research note on Thursday, June 11th. HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, June 11th. Finally, Wedbush lifted their target price on shares of WAVE Life Sciences from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

WAVE Life Sciences Stock Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.91 and a beta of -1.33. The firm’s 50-day simple moving average is $6.41 and its two-hundred day simple moving average is $10.55.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. The firm had revenue of $38.25 million for the quarter, compared to analyst estimates 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 expect that WAVE Life Sciences Ltd. will post -1.1 earnings per share for the current fiscal year.

Institutional Trading of WAVE Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. Pictet Asset Management Holding SA raised its stake in shares of WAVE Life Sciences by 5,024.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock worth $13,830,000 after buying an additional 790,175 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in WAVE Life Sciences in the fourth quarter valued at approximately $1,530,000. F m Investments LLC boosted its stake in WAVE Life Sciences by 24.5% in the fourth quarter. F m Investments LLC now owns 395,894 shares of the company’s stock valued at $6,730,000 after acquiring an additional 77,807 shares during the last quarter. Elmind Capital LP acquired a new stake in WAVE Life Sciences during the 4th quarter worth $7,613,000. Finally, Knott David M Jr raised its position in shares of WAVE Life Sciences by 125.0% during the 3rd quarter. Knott David M Jr now owns 90,000 shares of the company’s stock valued at $659,000 after acquiring an additional 50,000 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.