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

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and thirteen have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $31.6667.

Several brokerages have weighed in on WVE. Cantor Fitzgerald boosted their price objective on WAVE Life Sciences from $12.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Citigroup lifted their target price on WAVE Life Sciences from $16.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Royal Bank Of Canada raised WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $9.00 to $27.00 in a research report on Monday, December 8th. Truist Financial increased their price target on WAVE Life Sciences from $36.00 to $50.00 and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Wedbush lifted their price objective on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th.

Insider Transactions at WAVE Life Sciences

In related news, CFO Kyle Moran sold 50,036 shares of WAVE Life Sciences stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $20.03, for a total transaction of $1,002,221.08. Following the completion of the transaction, the chief financial officer directly owned 89,218 shares of the company’s stock, valued at approximately $1,787,036.54. The trade was a 35.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk purchased 1,470,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $27,930,000.00. Following the completion of the acquisition, the insider directly owned 18,245,691 shares in the company, valued at $346,668,129. The trade was a 8.76% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 912,117 shares of company stock worth $13,464,044. 23.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. raised its stake in shares of WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after acquiring an additional 9,135 shares in the last quarter. Russell Investments Group Ltd. grew its stake in WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after purchasing an additional 9,284 shares in the last quarter. Verdence Capital Advisors LLC purchased a new position in WAVE Life Sciences during the 3rd quarter worth $86,000. Palumbo Wealth Management LLC bought a new stake in WAVE Life Sciences during the 4th quarter valued at $193,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of WAVE Life Sciences by 18.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after buying an additional 1,802 shares during the period. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Stock Up 0.9%

Shares of NASDAQ:WVE opened at $13.94 on Thursday. 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 $2.33 billion, a P/E ratio of -18.59 and a beta of -1.82. The firm has a fifty day simple moving average of $13.16 and a two-hundred day simple moving average of $9.81.

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 the consensus estimate of ($0.30) by ($0.02). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The business had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million. On average, analysts expect that WAVE Life Sciences will post -1.14 earnings per share for the current year.

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.