Investment Analysts’ Recent Ratings Updates for Wave Life Sciences (WVE)

A number of research firms have changed their ratings and price targets for Wave Life Sciences (NASDAQ: WVE):

• 10/4/2024 – Wave Life Sciences had its price target raised by analysts at Royal Bank of Canada from $5.00 to $7.00. They now have a “sector perform” rating on the stock.
• 10/3/2024 – Wave Life Sciences had its price target raised by analysts at B. Riley from $11.00 to $19.00. They now have a “buy” rating on the stock.
• 9/27/2024 – Wave Life Sciences is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $13.00 price target on the stock.
• 9/25/2024 – Wave Life Sciences had its price target raised by analysts at HC Wainwright from $15.00 to $22.00. They now have a “buy” rating on the stock.
• 9/19/2024 – Wave Life Sciences is now covered by analysts at B. Riley. They set a “buy” rating and a $11.00 price target on the stock.
• 9/9/2024 – Wave Life Sciences is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $10.00 price target on the stock.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $8.73 on Tuesday. The business has a fifty day moving average price of $6.49 and a two-hundred day moving average price of $6.02. Wave Life Sciences Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $9.92. The stock has a market capitalization of $1.07 billion, a PE ratio of -16.79 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same period last year, the business earned ($0.20) EPS. As a group, sell-side analysts expect that Wave Life Sciences Ltd. will post -1.02 earnings per share for the current year.

Insider Transactions at Wave Life Sciences

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Plc Gsk bought 2,791,930 shares of Wave Life Sciences stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Driehaus Capital Management LLC boosted its holdings in shares of Wave Life Sciences by 62.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after buying an additional 348,300 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Wave Life Sciences by 13.6% during the 2nd 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. The Manufacturers Life Insurance Company boosted its holdings in shares of Wave Life Sciences by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after buying an additional 4,914 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Wave Life Sciences by 1.8% during the 2nd quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock worth $8,305,000 after buying an additional 28,690 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Wave Life Sciences by 26.3% during the 2nd quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock worth $167,000 after buying an additional 6,973 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.