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

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $26.4118.

WVE has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Canaccord Genuity Group decreased their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Bank of America decreased their target price on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Mizuho increased their price target on WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company raised their price target on 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 $5.74 on Thursday. WAVE Life Sciences has a 52 week low of $5.02 and a 52 week high of $21.73. The company has a market capitalization of $1.10 billion, a PE ratio of -5.42 and a beta of -1.29. The company has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $9.39.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. The company had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $8.45 million. On average, sell-side analysts forecast that WAVE Life Sciences will post -1.1 earnings per share for the current year.

Institutional Trading of WAVE Life Sciences

Several hedge funds have recently bought and sold shares of WVE. GSK plc acquired a new position in shares of WAVE Life Sciences in the fourth quarter valued at approximately $310,177,000. Darwin Global Management Ltd. bought a new stake in WAVE Life Sciences in the 4th quarter valued at $125,168,000. Price T Rowe Associates Inc. MD lifted its position in WAVE Life Sciences by 83.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after acquiring an additional 3,362,880 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in WAVE Life Sciences by 20.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after acquiring an additional 2,500,000 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in WAVE Life Sciences by 115.7% in the 4th quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock worth $69,620,000 after purchasing an additional 2,196,632 shares during the period. 89.73% of the stock is currently 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.