WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Rating of “Moderate Buy” from Analysts

WAVE Life Sciences Ltd. (NASDAQ:WVE) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.5625.

Several analysts have recently commented on the stock. Canaccord Genuity Group increased their target price on shares of WAVE Life Sciences from $40.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of WAVE Life Sciences in a research report on Monday, December 8th. Cantor Fitzgerald lifted 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. Citigroup boosted their target price on WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Finally, Leerink Partners reaffirmed an “outperform” rating on shares of WAVE Life Sciences in a research report on Monday, December 8th.

Insider Activity

In related news, insider Chandra Vargeese sold 3,228 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $13.45, for a total transaction of $43,416.60. Following the completion of the sale, the insider owned 408,246 shares in the company, valued at approximately $5,490,908.70. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kyle Moran sold 3,588 shares of WAVE Life Sciences stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $48,258.60. Following the completion of the sale, the chief financial officer directly owned 134,385 shares in the company, valued at approximately $1,807,478.25. This represents a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 915,181 shares of company stock worth $13,612,581. 23.98% of the stock is owned by insiders.

Institutional Investors Weigh In On WAVE Life Sciences

Several large investors have recently modified their holdings of WVE. Invesco Ltd. raised its holdings in shares of WAVE Life Sciences by 27.5% in the 4th quarter. Invesco Ltd. now owns 179,932 shares of the company’s stock worth $3,059,000 after purchasing an additional 38,806 shares during the period. Voloridge Investment Management LLC purchased a new stake in WAVE Life Sciences in the fourth quarter worth $12,278,000. Squadron Capital Management LLC bought a new stake in shares of WAVE Life Sciences in the fourth quarter valued at $2,975,000. Tang Capital Management LLC purchased a new position in shares of WAVE Life Sciences during the 4th quarter valued at $10,200,000. Finally, Sphera Funds Management LTD. grew its stake in shares of WAVE Life Sciences by 716.3% during the 4th quarter. Sphera Funds Management LTD. now owns 408,166 shares of the company’s stock worth $6,939,000 after acquiring an additional 358,166 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Stock Up 2.5%

Shares of NASDAQ:WVE opened at $13.49 on Monday. The business’s 50 day moving average is $14.63 and its 200 day moving average is $10.59. WAVE Life Sciences has a 12-month low of $5.28 and a 12-month high of $21.73. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -17.99 and a beta of -1.78.

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.