WAVE Life Sciences Ltd. (NASDAQ:WVE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $27.25.

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Truist Financial assumed coverage on shares of WAVE Life Sciences in a report on Wednesday, April 29th. They set a “buy” rating and a $15.00 price objective on the stock. Wells Fargo & Company upped their price objective 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. Mizuho boosted their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Finally, Cantor Fitzgerald boosted their target price on shares of WAVE Life Sciences from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $6.58 on Wednesday. The firm’s 50-day moving average price is $7.45 and its 200-day moving average price is $11.11. WAVE Life Sciences has a 1-year low of $5.02 and a 1-year high of $21.73. The firm has a market capitalization of $1.27 billion, a P/E ratio of -6.21 and a beta of -1.33.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data 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. 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 $38.25 million for the quarter, compared to analyst estimates of $8.45 million. Equities research analysts forecast that WAVE Life Sciences will post -1.16 EPS for the current year.

Institutional Investors Weigh In On WAVE Life Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in WVE. CWM LLC increased its position in shares of WAVE Life Sciences by 6,729.0% during 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 increased its position in shares of WAVE Life Sciences by 645.2% during the fourth 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 in the last quarter. Bessemer Group Inc. increased its position in shares of WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after acquiring an additional 9,135 shares in the last quarter. Russell Investments Group Ltd. increased its position 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 acquiring an additional 9,284 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position 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 acquiring an additional 3,609 shares in the last quarter. 89.73% of the stock is 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.