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

HC Wainwright reiterated their buy rating on shares of WAVE Life Sciences (NASDAQ:WVE) in a research note released on Monday morning,Benzinga reports. The firm currently has a $30.00 price target on the stock. HC Wainwright also issued estimates for WAVE Life Sciences’ FY2029 earnings at $0.61 EPS and FY2030 earnings at $3.66 EPS.

Several other research firms have also recently weighed in on WVE. Morgan Stanley set a $28.00 price objective on WAVE Life Sciences in a research report on Monday, December 8th. B. Riley Financial increased their price target on shares of WAVE Life Sciences from $19.00 to $37.00 and gave the company a “buy” rating in a report on Friday, December 12th. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Leerink Partners restated an “outperform” rating on shares of WAVE Life Sciences in a report on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Wednesday, January 21st. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

WAVE Life Sciences Stock Performance

WAVE Life Sciences stock opened at $13.71 on Monday. The business’s 50-day simple moving average is $14.19 and its 200-day simple moving average is $10.90. The firm has a market capitalization of $2.58 billion, a PE ratio of -11.24 and a beta of -1.77. WAVE Life Sciences has a 52 week low of $5.28 and a 52 week high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, February 26th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). The business had revenue of $17.25 million for the quarter, compared to the consensus estimate of $15.68 million. WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 85.69%. Research analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current year.

Insider Activity

In other news, CEO Paul Bolno sold 10,480 shares of WAVE Life Sciences stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $140,956.00. Following the transaction, the chief executive officer owned 275,520 shares in the company, valued at approximately $3,705,744. This trade represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Moran sold 3,588 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $48,258.60. Following the transaction, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at $1,807,478.25. This trade represents a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 948,375 shares of company stock valued at $14,112,151. Corporate insiders own 23.98% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its position in WAVE Life Sciences by 6,729.0% during the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after acquiring an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of WAVE Life Sciences by 645.2% in 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 period. Bessemer Group Inc. boosted its position in shares of WAVE Life Sciences by 1,156.3% during the 3rd quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after purchasing an additional 9,135 shares in the last quarter. Russell Investments Group Ltd. grew its stake in WAVE Life Sciences by 1,441.6% during 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 during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in WAVE Life Sciences by 18.7% in the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after purchasing an additional 1,802 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.