WAVE Life Sciences (NASDAQ:WVE) Price Target Cut to $12.00 by Analysts at Wedbush

WAVE Life Sciences (NASDAQ:WVE) had its target price reduced by Wedbush from $15.00 to $12.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. Wedbush currently has an outperform rating on the stock.

WVE has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Zacks Research upgraded shares of WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Friday, July 17th. Finally, Citigroup lowered their price target on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating for the company in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.88.

WAVE Life Sciences Trading Down 4.3%

WVE stock opened at $5.51 on Friday. The stock has a 50-day moving average price of $5.98 and a two-hundred day moving average price of $8.98. WAVE Life Sciences has a 12-month low of $5.02 and a 12-month high of $21.73. The company has a market cap of $1.06 billion, a PE ratio of -5.06 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The firm had revenue of $2.27 million for the quarter, compared to analyst estimates of $7.45 million. WAVE Life Sciences had a negative return on equity of 52.61% and a negative net margin of 309.73%. Equities analysts forecast that WAVE Life Sciences will post -1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On WAVE Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its stake in shares of WAVE Life Sciences by 25.0% during the second quarter. Handelsbanken Fonder AB now owns 81,900 shares of the company’s stock valued at $476,000 after acquiring an additional 16,400 shares in the last quarter. Bank of America Corp DE increased its position in shares of WAVE Life Sciences by 29.5% during the first quarter. Bank of America Corp DE now owns 236,760 shares of the company’s stock worth $1,717,000 after acquiring an additional 53,905 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of WAVE Life Sciences in the first quarter worth about $326,000. California State Teachers Retirement System lifted its stake in shares of WAVE Life Sciences by 34.8% in the first quarter. California State Teachers Retirement System now owns 145,206 shares of the company’s stock worth $1,053,000 after acquiring an additional 37,526 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in WAVE Life Sciences by 31.9% in the first quarter. The Manufacturers Life Insurance Company now owns 240,983 shares of the company’s stock valued at $1,747,000 after purchasing an additional 58,255 shares during the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting WAVE Life Sciences

Here are the key news stories impacting WAVE Life Sciences this week:

• Positive Sentiment: WAVE said dosing is underway in the Phase 2a multidose portion of its INLIGHT trial evaluating WVE-007, an INHBE GalNAc-siRNA treatment, in people with obesity and related conditions. The study could also support future development in MASH, type 2 diabetes and other cardiometabolic diseases. WAVE Life Sciences Second-Quarter Results and Business Update
• Positive Sentiment: Citigroup maintained a Buy rating despite lowering its price target from $24 to $19, implying significant potential upside from the current trading level. Benzinga analyst update
• Positive Sentiment: Wedbush also retained an Outperform rating while reducing its target from $15 to $12, indicating analysts remain constructive on WVE’s pipeline despite lower near-term valuation expectations. The Fly analyst update
• Negative Sentiment: Second-quarter adjusted loss was $0.34 per share, worse than the $0.31 consensus estimate and the $0.31 loss reported a year earlier. WAVE Life Sciences Q2 Earnings Report
• Negative Sentiment: Revenue of $2.27 million substantially missed analysts’ $6.53 million expectation, reinforcing concerns about the company’s limited current commercial revenue and ongoing losses. WAVE Life Sciences Earnings Report
• Negative Sentiment: The reductions in both analyst price targets suggest expectations for WVE’s near-term valuation have moderated, even though the firms kept bullish ratings.

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.