Cantor Fitzgerald Forecasts Strong Price Appreciation for WAVE Life Sciences (NASDAQ:WVE) Stock

WAVE Life Sciences (NASDAQ:WVE) had its target price increased by research analysts at Cantor Fitzgerald from $34.00 to $41.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 204.83% from the company’s current price.

Several other equities research analysts have also commented on the company. Raymond James Financial restated an “outperform” rating and set a $21.00 price target on shares of WAVE Life Sciences in a research note on Monday, December 8th. UBS Group set a $32.00 target price on shares of WAVE Life Sciences in a research report on Tuesday, December 16th. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Wednesday, January 21st. Wedbush boosted 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. Finally, Truist Financial increased their price objective on shares of WAVE Life Sciences from $36.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, WAVE Life Sciences has a consensus rating of “Moderate Buy” and an average price target of $32.69.

WAVE Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $13.45 on Thursday. WAVE Life Sciences has a 1 year low of $5.28 and a 1 year high of $21.73. The firm’s 50 day moving average price is $14.61 and its 200 day moving average price is $10.25. The firm has a market cap of $2.25 billion, a P/E ratio of -17.93 and a beta of -1.78.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Monday, November 10th. The company reported ($0.32) 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 during the quarter, compared to analyst estimates of $9.85 million. As a group, equities analysts predict that WAVE Life Sciences will post -1.14 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gregory L. Verdine sold 20,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $13.47, for a total transaction of $269,400.00. Following the sale, the director owned 275,217 shares in the company, valued at $3,707,172.99. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Francis sold 9,375 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $16.03, for a total value of $150,281.25. Following the transaction, the insider directly owned 25,000 shares of the company’s stock, valued at $400,750. This trade represents a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 912,117 shares of company stock worth $13,464,044. Corporate insiders own 23.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WVE. Virtus Investment Advisers LLC raised its position in shares of WAVE Life Sciences by 10.2% in the 2nd quarter. Virtus Investment Advisers LLC now owns 13,060 shares of the company’s stock worth $85,000 after purchasing an additional 1,210 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in WAVE Life Sciences by 18.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after purchasing an additional 1,802 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in WAVE Life Sciences by 32.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after buying an additional 1,972 shares during the last quarter. Velan Capital Investment Management LP lifted its stake in shares of WAVE Life Sciences by 15.4% in the second quarter. Velan Capital Investment Management LP now owns 15,000 shares of the company’s stock worth $98,000 after buying an additional 2,000 shares in the last quarter. Finally, Matisse Capital grew its holdings in shares of WAVE Life Sciences by 17.9% during the third quarter. Matisse Capital now owns 13,193 shares of the company’s stock valued at $97,000 after buying an additional 2,000 shares during 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.