WAVE Life Sciences (NASDAQ:WVE) Shares Gap Up – What’s Next?

WAVE Life Sciences Ltd. (NASDAQ:WVE) shares gapped up prior to trading on Monday . The stock had previously closed at $6.10, but opened at $6.41. WAVE Life Sciences shares last traded at $6.1120, with a volume of 93,246 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WVE. Wedbush dropped their price objective on WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Wall Street Zen downgraded WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. Citigroup decreased their target price on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. Finally, Zacks Research raised WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.53.

WAVE Life Sciences Trading Down 0.9%

The company has a 50 day simple moving average of $5.93 and a 200 day simple moving average of $8.66. The stock has a market capitalization of $1.19 billion, a PE ratio of -5.55 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $7.45 million. On average, equities research analysts predict that WAVE Life Sciences Ltd. will post -1.12 EPS for the current year.

Institutional Trading of WAVE Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in WVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in WAVE Life Sciences by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after purchasing an additional 4,957 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of WAVE Life Sciences by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock worth $4,506,000 after buying an additional 20,624 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of WAVE Life Sciences by 22.5% in the 2nd quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock valued at $1,057,000 after buying an additional 29,899 shares during the period. Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences in the second quarter valued at approximately $80,000. Finally, Norges Bank acquired a new position in WAVE Life Sciences during the second quarter worth $650,000. 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.