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

WAVE Life Sciences Ltd. (NASDAQ:WVE) has earned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $22.3125.

A number of research analysts have recently issued reports on WVE shares. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a report on Monday, August 3rd. Zacks Research downgraded WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. Wedbush dropped their price objective on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Wells Fargo & Company upped their price objective on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th.

WAVE Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $4.67 on Friday. The company has a 50-day simple moving average of $5.55 and a 200-day simple moving average of $7.28. WAVE Life Sciences has a one year low of $4.63 and a one year high of $21.73. The stock has a market capitalization of $920.22 million, a price-to-earnings ratio of -4.28 and a beta of -1.30.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $7.45 million. As a group, research analysts forecast that WAVE Life Sciences will post -1.11 EPS for the current fiscal year.

Insider Transactions at WAVE Life Sciences

In related news, Director Heidi L. Wagner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total value of $42,070.00. Following the completion of the sale, the director owned 44,930 shares in the company, valued at $270,029.30. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Adrian Rawcliffe sold 12,700 shares of WAVE Life Sciences stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,564 shares of company stock worth $132,476. Company insiders own 24.30% of the company’s stock.

Institutional Trading of WAVE Life Sciences

Hedge funds have recently modified their holdings of the business. GSK plc purchased a new position in WAVE Life Sciences in the fourth quarter worth $310,177,000. Darwin Global Management Ltd. acquired a new stake in WAVE Life Sciences in the fourth quarter valued at $125,168,000. Readystate Asset Management LP purchased a new stake in shares of WAVE Life Sciences during the 2nd quarter worth $27,465,000. Price T Rowe Associates Inc. MD boosted its position in shares of WAVE Life Sciences by 83.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock worth $125,927,000 after purchasing an additional 3,362,880 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of WAVE Life Sciences by 20.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after purchasing an additional 2,500,000 shares during the period. 89.73% of the stock is owned by institutional investors and hedge funds.

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.