WAVE Life Sciences (NASDAQ:WVE) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of WAVE Life Sciences (NASDAQ:WVE) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other analysts have also issued reports on WVE. Canaccord Genuity Group decreased their price target on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Mizuho increased their price objective on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Citigroup decreased their target price on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.41.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $5.74 on Tuesday. WAVE Life Sciences has a 1 year low of $5.02 and a 1 year high of $21.73. The firm’s 50 day moving average price is $6.07 and its 200 day moving average price is $9.39. The firm has a market cap of $1.10 billion, a P/E ratio of -5.42 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.21. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. As a group, equities analysts predict that WAVE Life Sciences will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC increased its position in shares of WAVE Life Sciences by 6,729.0% in 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 in the last quarter. Smartleaf Asset Management LLC raised its position in WAVE Life Sciences by 645.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after purchasing an additional 1,942 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of WAVE Life Sciences by 1,441.6% during the third 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of WAVE Life Sciences by 44.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after purchasing an additional 3,609 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences in the second quarter worth about $80,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.