WAVE Life Sciences (NASDAQ:WVE) Raised to “Hold” at Wall Street Zen

by · The Markets Daily

WAVE Life Sciences (NASDAQ:WVE – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

A number of other research firms also recently issued reports on WVE. Cantor Fitzgerald raised their price target on WAVE Life Sciences from $12.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, October 8th. Truist Financial raised their target price on shares of WAVE Life Sciences from $36.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Wedbush upped their price target on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Leerink Partners reiterated an “outperform” rating on shares of WAVE Life Sciences in a research note on Monday, December 8th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.67.

Check Out Our Latest Research Report on WAVE Life Sciences

WAVE Life Sciences Price Performance

NASDAQ WVE opened at $13.91 on Friday. The firm’s fifty day moving average price is $12.26 and its 200 day moving average price is $9.47. WAVE Life Sciences has a 12 month low of $5.28 and a 12 month high of $21.73. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -18.55 and a beta of -1.82.

WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $7.61 million during the quarter, compared to analyst estimates 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, sell-side analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insider Buying and Selling

In other WAVE Life Sciences news, Director Christian O. Henry sold 93,445 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,368,969.25. Following the completion of the transaction, the director owned 12,700 shares in the company, valued at approximately $186,055. This represents a 88.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Francis sold 441,031 shares of WAVE Life Sciences stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $14.57, for a total transaction of $6,425,821.67. Following the completion of the sale, the insider directly owned 25,000 shares in the company, valued at approximately $364,250. The trade was a 94.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 912,117 shares of company stock worth $13,464,044 in the last ninety days. Insiders own 23.98% of the company’s stock.

Hedge Funds Weigh In On WAVE Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Bessemer Group Inc. lifted its holdings in shares of 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 buying an additional 9,135 shares during the period. Russell Investments Group Ltd. raised its position in WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after acquiring an additional 9,284 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after acquiring an additional 1,802 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after acquiring an additional 3,609 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences during the 2nd quarter worth $80,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

(Get Free Report)

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.

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