WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives $31.67 Consensus PT from Analysts

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have received an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $31.6667.

Several research firms recently weighed in on WVE. Citigroup raised their target price on shares of WAVE Life Sciences from $16.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Royal Bank Of Canada raised shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $9.00 to $27.00 in a report on Monday, December 8th. Oppenheimer lifted their price target on WAVE Life Sciences from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Cantor Fitzgerald boosted their price target on WAVE Life Sciences from $12.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Finally, HC Wainwright upped their price objective on WAVE Life Sciences from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, December 19th.

Insiders Place Their Bets

In other news, CFO Kyle Moran sold 50,036 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $20.03, for a total transaction of $1,002,221.08. Following the completion of the sale, the chief financial officer owned 89,218 shares in the company, valued at approximately $1,787,036.54. This trade represents a 35.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chris Francis sold 9,375 shares of WAVE Life Sciences stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $16.03, for a total transaction of $150,281.25. Following the sale, the insider directly owned 25,000 shares of the company’s stock, valued at $400,750. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 912,117 shares of company stock worth $13,464,044 in the last quarter. Company insiders own 23.98% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

Hedge funds have recently bought and sold shares of the stock. CWM LLC grew its position in shares of WAVE Life Sciences by 6,729.0% in the fourth 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 last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in WAVE Life Sciences by 32.1% during the 4th 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. Bessemer Group Inc. boosted its stake in WAVE Life Sciences by 1,156.3% in the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after purchasing an additional 9,135 shares during the period. Russell Investments Group Ltd. boosted 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 valued at $73,000 after purchasing an additional 9,284 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in WAVE Life Sciences in the 3rd quarter valued at $86,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.

WAVE Life Sciences Stock Performance

NASDAQ:WVE opened at $12.73 on Thursday. WAVE Life Sciences has a 52-week low of $5.28 and a 52-week high of $21.73. The company has a market cap of $2.13 billion, a P/E ratio of -16.97 and a beta of -1.82. The stock’s 50-day simple moving average is $13.79 and its 200 day simple moving average is $10.01.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results 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 company had revenue of $7.61 million during the quarter, compared to the consensus estimate 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, equities analysts predict that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

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.