WAVE Life Sciences (NASDAQ:WVE) Given New $12.00 Price Target at Wedbush

WAVE Life Sciences (NASDAQ:WVE) had its price target dropped by Wedbush from $15.00 to $12.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 108.33% from the company’s previous close.

Other equities analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research upgraded shares of WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. Finally, Truist Financial began coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, WAVE Life Sciences presently has an average rating of “Moderate Buy” and an average target price of $25.06.

WAVE Life Sciences Price Performance

WAVE Life Sciences stock opened at $5.76 on Friday. The business has a 50 day simple moving average of $5.99 and a 200 day simple moving average of $9.00. WAVE Life Sciences has a one year low of $5.02 and a one year high of $21.73. The company has a market capitalization of $1.11 billion, a PE ratio of -5.43 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. The firm had revenue of $2.27 million during the quarter, compared to analyst estimates of $6.53 million. Equities analysts anticipate that WAVE Life Sciences will post -1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WAVE Life Sciences

Hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its stake in WAVE Life Sciences by 1.5% in the fourth quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock valued at $1,627,000 after buying an additional 1,441 shares during the period. AlphaCentric Advisors LLC increased its stake in shares of WAVE Life Sciences by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock valued at $212,000 after acquiring an additional 1,585 shares during the last quarter. First Trust Advisors LP raised its position in shares of WAVE Life Sciences by 15.7% in the 1st quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock valued at $98,000 after acquiring an additional 1,830 shares during the period. Smartleaf Asset Management LLC boosted its stake in WAVE Life Sciences by 645.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after acquiring an additional 1,942 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in WAVE Life Sciences by 32.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock valued at $138,000 after purchasing an additional 1,972 shares in the last quarter. 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.