Brokerages Set WAVE Life Sciences Ltd. (NASDAQ:WVE) PT at $22.31

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have earned an average rating of “Moderate Buy” from the sixteen analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $22.3125.

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. B. Riley Financial dropped their price objective on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wedbush cut their price objective on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, New Street Research set a $13.00 target price on WAVE Life Sciences in a report on Thursday, June 11th.

WAVE Life Sciences Price Performance

NASDAQ:WVE opened at $4.91 on Friday. WAVE Life Sciences has a fifty-two week low of $4.64 and a fifty-two week high of $21.73. The stock has a market capitalization of $967.52 million, a PE ratio of -4.50 and a beta of -1.30. The business’s 50-day simple moving average is $5.60 and its 200-day simple moving average is $7.41.

WAVE Life Sciences (NASDAQ:WVE) last posted 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). The business had revenue of $2.27 million for the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. On average, research analysts expect that WAVE Life Sciences will post -1.11 earnings per share for the current year.

Insider Activity

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 12,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heidi L. Wagner sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. This represents a 13.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,564 shares of company stock valued at $132,476 over the last ninety days. 24.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 in the last quarter. 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 purchasing an additional 20,624 shares in the last quarter. Rhumbline Advisers increased its holdings in WAVE Life Sciences by 22.5% during the second quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock worth $1,057,000 after buying an additional 29,899 shares during the last quarter. Prudential Financial Inc. acquired a new stake in WAVE Life Sciences in the second quarter valued at $80,000. Finally, Norges Bank acquired a new position in shares of WAVE Life Sciences during the 2nd quarter worth about $650,000. Institutional investors and hedge funds 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.