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

WAVE Life Sciences Ltd. (NASDAQ:WVE) has been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $22.5294.

A number of research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Truist Financial assumed coverage on shares of WAVE Life Sciences in a research note on Wednesday, April 29th. They set a “buy” rating and a $15.00 price objective for the company. UBS Group set a $13.00 target price on WAVE Life Sciences in a research report on Monday, August 3rd. Finally, Canaccord Genuity Group dropped their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 30th.

Insider Buying and Selling

In other news, Director Heidi L. Wagner sold 7,000 shares of WAVE Life Sciences stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the transaction, the director directly owned 44,930 shares in the company, valued at approximately $270,029.30. The trade was a 13.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adrian Rawcliffe sold 12,700 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total transaction of $67,183.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,564 shares of company stock worth $132,476. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of WVE. Deutsche Bank AG raised its stake in WAVE Life Sciences by 1.5% in the 4th quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock worth $1,627,000 after purchasing an additional 1,441 shares in the last quarter. AlphaCentric Advisors LLC boosted its holdings in 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 purchasing an additional 1,585 shares during the period. First Trust Advisors LP grew its position in shares of WAVE Life Sciences by 15.7% during the 1st quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock worth $98,000 after purchasing an additional 1,830 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 1,942 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of WAVE Life Sciences by 32.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after purchasing an additional 1,972 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

WAVE Life Sciences Trading Up 4.0%

WVE stock opened at $5.41 on Monday. WAVE Life Sciences has a 1-year low of $5.01 and a 1-year high of $21.73. The firm has a market cap of $1.07 billion, a PE ratio of -4.96 and a beta of -1.26. The business’s 50-day moving average price is $5.88 and its two-hundred day moving average price is $8.40.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. On average, analysts forecast that WAVE Life Sciences will post -1.12 earnings per share for the current year.

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.