WAVE Life Sciences (NASDAQ:WVE) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of WAVE Life Sciences (NASDAQ:WVE) from a sell rating to a hold rating in a report issued on Sunday.

Other equities research analysts have also issued research reports about the stock. HC Wainwright upped their price objective on shares of WAVE Life Sciences from $22.00 to $30.00 and gave the company a “buy” rating in a report on Friday, December 19th. Morgan Stanley set a $28.00 target price on shares of WAVE Life Sciences in a report on Monday, December 8th. Cantor Fitzgerald increased their price target on shares of WAVE Life Sciences from $12.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Wedbush lifted their price target on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Leerink Partners reiterated an “outperform” rating on shares of WAVE Life Sciences in a report 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.67.

WAVE Life Sciences Stock Down 6.7%

NASDAQ:WVE opened at $13.84 on Friday. WAVE Life Sciences has a 52 week low of $5.28 and a 52 week high of $21.73. The stock has a market capitalization of $2.31 billion, a PE ratio of -18.45 and a beta of -1.82. The stock’s 50-day moving average price is $12.15 and its 200-day moving average price is $9.42.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. Sell-side analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at WAVE Life Sciences

In other WAVE Life Sciences news, major shareholder Plc Gsk purchased 1,470,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was bought at an average price of $19.00 per share, with a total value of $27,930,000.00. Following the transaction, the insider directly owned 18,245,691 shares of the company’s stock, valued at approximately $346,668,129. This represents a 8.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Corrigan sold 16,115 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $13.48, for a total transaction of $217,230.20. Following the completion of the transaction, the director owned 28,815 shares of the company’s stock, valued at approximately $388,426.20. This trade represents a 35.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 912,117 shares of company stock worth $13,464,044. 23.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in WAVE Life Sciences by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after acquiring an additional 4,957 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of WAVE Life Sciences by 3.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock valued at $4,506,000 after purchasing an additional 20,624 shares during the last quarter. Strs Ohio acquired a new stake in shares of WAVE Life Sciences in the 1st quarter valued at about $406,000. Rhumbline Advisers boosted its position in shares of WAVE Life Sciences by 6.3% in the 1st quarter. Rhumbline Advisers now owns 132,700 shares of the company’s stock valued at $1,072,000 after purchasing an additional 7,860 shares during the period. Finally, Platinum Investment Management Ltd. grew its stake in WAVE Life Sciences by 13.9% during the 2nd quarter. Platinum Investment Management Ltd. now owns 355,353 shares of the company’s stock worth $2,310,000 after buying an additional 43,361 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.