Analysts Set WAVE Life Sciences Ltd. (NASDAQ:WVE) PT at $26.41

WAVE Life Sciences Ltd. (NASDAQ:WVE) has earned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $26.4118.

A number of research analysts recently weighed in on WVE shares. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Bank of America decreased their target price on shares of 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. Citigroup lowered their price target on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Finally, Canaccord Genuity Group dropped their price target on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th.

WAVE Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $5.82 on Thursday. WAVE Life Sciences has a fifty-two week low of $5.02 and a fifty-two week high of $21.73. The business has a 50-day simple moving average of $6.14 and a two-hundred day simple moving average of $9.69. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -5.49 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. As a group, research analysts predict that WAVE Life Sciences will post -1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CWM LLC boosted its position in WAVE Life Sciences by 6,729.0% in the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after purchasing an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of WAVE Life Sciences by 645.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after purchasing an additional 1,942 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of WAVE Life Sciences during the 4th quarter valued at about $82,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of WAVE Life Sciences by 32.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after purchasing an additional 1,972 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of WAVE Life Sciences by 1,441.6% in the 3rd 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 during the period. Institutional investors 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.