Wave Life Sciences’ (WVE) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Wave Life Sciences (NASDAQ:WVE) in a report published on Wednesday morning,Benzinga reports. They currently have a $22.00 price objective on the stock. HC Wainwright also issued estimates for Wave Life Sciences’ FY2028 earnings at $1.27 EPS.

Other analysts have also recently issued reports about the company. Truist Financial raised their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price target on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Price Performance

Shares of WVE stock opened at $13.67 on Wednesday. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74. The business has a 50-day moving average of $10.76 and a 200 day moving average of $7.52. The stock has a market capitalization of $1.71 billion, a PE ratio of -12.32 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). The firm had revenue of ($7.68) million for the quarter, compared to the consensus estimate of $15.45 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. Analysts anticipate that Wave Life Sciences will post -1.06 EPS for the current year.

Insider Activity

In related news, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total value of $2,854,788.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 452,056 shares of company stock valued at $5,955,438 in the last 90 days. 29.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wave Life Sciences

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after buying an additional 2,451 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $74,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.