WAVE Life Sciences (NASDAQ:WVE) Given New $41.00 Price Target at Cantor Fitzgerald

WAVE Life Sciences (NASDAQ:WVE) had its price objective hoisted by Cantor Fitzgerald from $34.00 to $41.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently weighed in on WVE. HC Wainwright lifted their target price on shares of WAVE Life Sciences from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, December 19th. UBS Group set a $32.00 price objective on WAVE Life Sciences in a research report on Tuesday, December 16th. Oppenheimer increased their target price on WAVE Life Sciences from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Leerink Partners reissued an “outperform” rating on shares of WAVE Life Sciences in a report on Monday, December 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Wednesday, January 21st. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.69.

WAVE Life Sciences Stock Down 4.4%

WVE stock opened at $12.75 on Thursday. WAVE Life Sciences has a twelve month low of $5.28 and a twelve month high of $21.73. The stock has a market cap of $2.13 billion, a P/E ratio of -17.00 and a beta of -1.78. The business’s 50-day moving average price is $14.49 and its 200-day moving average price is $10.22.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results 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). WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%.The firm had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $9.85 million. On average, equities research analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In related news, CFO Kyle Moran sold 210,000 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $14.77, for a total value of $3,101,700.00. Following the completion of the transaction, the chief financial officer directly owned 89,218 shares of the company’s stock, valued at approximately $1,317,749.86. This trade represents a 70.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christian O. Henry sold 93,445 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $14.65, for a total transaction of $1,368,969.25. Following the completion of the sale, the director owned 12,700 shares in the company, valued at $186,055. This represents a 88.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 912,117 shares of company stock worth $13,464,044 over the last three months. 23.98% of the stock is owned by company insiders.

Institutional Trading of WAVE Life Sciences

A number of large investors have recently made changes to their positions in the business. Voya Investment Management LLC boosted its stake in WAVE Life Sciences by 736.5% during the third quarter. Voya Investment Management LLC now owns 258,011 shares of the company’s stock worth $1,889,000 after buying an additional 227,167 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of WAVE Life Sciences in the 2nd quarter worth about $330,000. JPMorgan Chase & Co. lifted its holdings in shares of WAVE Life Sciences by 33.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,569,015 shares of the company’s stock worth $10,199,000 after acquiring an additional 390,078 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of WAVE Life Sciences by 678,144.7% during the 3rd quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after purchasing an additional 3,750,140 shares during the period. Finally, Schroder Investment Management Group grew its holdings in WAVE Life Sciences by 29.7% during the 2nd quarter. Schroder Investment Management Group now owns 621,378 shares of the company’s stock valued at $4,039,000 after purchasing an additional 142,109 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.