WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives $22.31 Consensus Target Price from Brokerages

WAVE Life Sciences Ltd. (NASDAQ:WVE) has been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $22.3125.

Several equities research analysts have recently weighed in on the stock. B. Riley Financial lowered their price target on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Wedbush dropped their target price on WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Citigroup cut their price target on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wall Street Zen lowered WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research note on Monday, August 3rd.

Insider Activity

In other WAVE Life Sciences news, Director Heidi L. Wagner sold 7,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at approximately $270,029.30. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Adrian Rawcliffe sold 12,700 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total transaction of $67,183.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,564 shares of company stock worth $132,476 in the last quarter. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On WAVE Life Sciences

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in WAVE Life Sciences by 152.6% in the 1st quarter. Renaissance Technologies LLC now owns 597,220 shares of the company’s stock worth $4,330,000 after purchasing an additional 360,800 shares in the last quarter. F m Investments LLC raised its holdings in shares of WAVE Life Sciences by 24.5% in the fourth quarter. F m Investments LLC now owns 395,894 shares of the company’s stock worth $6,730,000 after buying an additional 77,807 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of WAVE Life Sciences during the fourth quarter worth $1,530,000. Elmind Capital LP acquired a new stake in shares of WAVE Life Sciences during the fourth quarter worth $7,613,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of WAVE Life Sciences during the first quarter valued at $1,138,000. 89.73% of the stock is owned by institutional investors and hedge funds.

WAVE Life Sciences Stock Performance

Shares of WAVE Life Sciences stock opened at $4.86 on Friday. The firm has a market cap of $957.66 million, a P/E ratio of -4.46 and a beta of -1.30. WAVE Life Sciences has a 12 month low of $4.64 and a 12 month high of $21.73. The stock’s fifty day moving average price is $5.64 and its 200-day moving average price is $7.52.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) earnings per share 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 firm had revenue of $2.27 million during the quarter, compared to the consensus estimate of $7.45 million. Analysts forecast that WAVE Life Sciences will post -1.11 earnings per share for the current year.

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.