WAVE Life Sciences (NASDAQ:WVE) Price Target Raised to $52.00

WAVE Life Sciences (NASDAQ:WVE) had its price target increased by equities researchers at Canaccord Genuity Group from $43.00 to $52.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 267.99% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Wedbush lifted their price target on shares of WAVE Life Sciences from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group set a $32.00 price target on WAVE Life Sciences in a report on Tuesday, December 16th. Wall Street Zen lowered WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, January 21st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $21.00 target price on shares of WAVE Life Sciences in a research note on Monday, December 8th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.73.

WAVE Life Sciences Stock Up 6.3%

Shares of WVE traded up $0.84 on Tuesday, reaching $14.13. The stock had a trading volume of 915,983 shares, compared to its average volume of 3,447,455. WAVE Life Sciences has a twelve month low of $5.28 and a twelve month high of $21.73. The firm has a market capitalization of $2.66 billion, a PE ratio of -11.54 and a beta of -1.77. The firm has a 50-day moving average of $13.91 and a 200 day moving average of $10.99.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 85.69%. The company had revenue of $17.25 million during the quarter, compared to analyst estimates of $15.68 million. On average, sell-side analysts anticipate that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Activity at WAVE Life Sciences

In other WAVE Life Sciences news, insider Chris Francis sold 33,194 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $499,569.70. Following the sale, the insider directly owned 61,867 shares of the company’s stock, valued at approximately $931,098.35. This represents a 34.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Plc Gsk bought 1,470,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were bought at an average cost of $19.00 per share, with a total value of $27,930,000.00. Following the completion of the acquisition, the insider directly owned 18,245,691 shares of the company’s stock, valued at approximately $346,668,129. The trade was a 8.76% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 61,748 shares of company stock valued at $907,809 in the last ninety days. 23.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WVE. Voya Investment Management LLC boosted its position in shares of WAVE Life Sciences by 736.5% during the third quarter. Voya Investment Management LLC now owns 258,011 shares of the company’s stock worth $1,889,000 after buying an additional 227,167 shares during the period. Handelsbanken Fonder AB bought a new stake in WAVE Life Sciences during the 2nd quarter valued at $330,000. JPMorgan Chase & Co. raised its stake in WAVE Life Sciences by 33.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,569,015 shares of the company’s stock valued at $10,199,000 after acquiring an additional 390,078 shares in the last quarter. Federated Hermes Inc. boosted its position in WAVE Life Sciences by 678,144.7% during the 3rd quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after acquiring an additional 3,750,140 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of WAVE Life Sciences by 29.7% in the second quarter. Schroder Investment Management Group now owns 621,378 shares of the company’s stock worth $4,039,000 after purchasing an additional 142,109 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.