WAVE Life Sciences (NASDAQ:WVE) Given New $52.00 Price Target at Canaccord Genuity Group

WAVE Life Sciences (NASDAQ:WVE) had its target price boosted by equities research analysts at Canaccord Genuity Group from $43.00 to $52.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 267.99% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Wednesday, January 21st. Leerink Partners reiterated an “outperform” rating on shares of WAVE Life Sciences in a research note on Monday, December 8th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of WAVE Life Sciences in a report on Monday, March 2nd. Truist Financial increased their target price on shares of WAVE Life Sciences from $36.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Morgan Stanley set a $28.00 price target on shares of WAVE Life Sciences in a research note on Monday, December 8th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.73.

WAVE Life Sciences Price Performance

Shares of WAVE Life Sciences stock traded up $0.84 during trading on Tuesday, hitting $14.13. 915,983 shares of the stock were exchanged, compared to its average volume of 3,447,455. The firm’s 50-day moving average price is $13.91 and its 200 day moving average price is $10.99. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -11.54 and a beta of -1.77. WAVE Life Sciences has a 12-month low of $5.28 and a 12-month high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The business had revenue of $17.25 million during the quarter, compared to analyst estimates of $15.68 million. WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 85.69%. As a group, research analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insider Activity

In other news, CFO Kyle Moran sold 3,588 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.45, for a total transaction of $48,258.60. Following the transaction, the chief financial officer directly owned 134,385 shares in the company, valued at $1,807,478.25. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul Bolno sold 10,480 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $140,956.00. Following the transaction, the chief executive officer directly owned 275,520 shares of the company’s stock, valued at $3,705,744. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,748 shares of company stock worth $907,809 over the last quarter. 23.98% of the stock is owned by insiders.

Institutional Trading of WAVE Life Sciences

Several hedge funds have recently modified their holdings of the business. CWM LLC grew its holdings in WAVE Life Sciences by 6,729.0% during the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after acquiring an additional 2,086 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of WAVE Life Sciences by 645.2% during the 4th 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 in the last quarter. Bessemer Group Inc. grew its stake in shares of WAVE Life Sciences by 1,156.3% during the 3rd 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 period. Russell Investments Group Ltd. grew its stake in shares of WAVE Life Sciences by 1,441.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after purchasing an additional 9,284 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after purchasing an additional 1,802 shares during the period. 89.73% of the stock is 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.