WAVE Life Sciences (NASDAQ:WVE) Shares Up 7.4% – Here’s Why

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) were up 7.4% during trading on Thursday . The company traded as high as $6.26 and last traded at $6.2750. 2,747,967 shares were traded during mid-day trading, a decline of 34% from the average session volume of 4,141,080 shares. The stock had previously closed at $5.84.

Analyst Ratings Changes

Several brokerages have recently weighed in on WVE. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Monday, April 20th. Wedbush boosted their price target on WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Citigroup reduced 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. Wells Fargo & Company raised their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.41.

WAVE Life Sciences Stock Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -5.91 and a beta of -1.29. The company’s fifty day simple moving average is $6.36 and its two-hundred day simple moving average is $10.45.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. Sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 EPS for the current year.

Institutional Trading of WAVE Life Sciences

Several institutional investors and hedge funds have recently bought and sold shares of WVE. GSK plc acquired a new position in shares of WAVE Life Sciences in the 4th quarter worth approximately $310,177,000. Darwin Global Management Ltd. bought a new stake in shares of WAVE Life Sciences in the 4th quarter valued at approximately $125,168,000. Price T Rowe Associates Inc. MD raised its position in shares of WAVE Life Sciences by 83.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after acquiring an additional 3,362,880 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of WAVE Life Sciences by 20.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after acquiring an additional 2,500,000 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in WAVE Life Sciences by 115.7% during the fourth quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock worth $69,620,000 after purchasing an additional 2,196,632 shares during the last quarter. Institutional investors and hedge funds 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.