WAVE Life Sciences Ltd. (NASDAQ:WVE) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• WAVE Life Sciences has a consensus analyst rating of “Moderate Buy”, based on coverage from 15 brokerages. Fourteen analysts rate it a buy, while one has a sell rating, and the average price target is about $26.41.
• The stock was down 3.6% and opened at $5.91, near its 52-week low of $5.02 and well below its 52-week high of $21.73. It also trades below both its 50-day and 200-day moving averages.
• In its latest quarterly results, WAVE beat expectations with EPS of -$0.13 versus the forecast of -$0.34 and revenue of $38.25 million versus $8.45 million expected. Despite the beat, the company remains unprofitable, with analysts expecting a full-year loss of $1.10 per share.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $26.4118.

WVE has been the topic of a number of research reports. Mizuho boosted their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a report on Thursday, June 11th. Wall Street Zen upgraded shares of WAVE Life Sciences from a "strong sell" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of WAVE Life Sciences in a report on Monday, April 20th. Finally, Bank of America cut their price target on shares of WAVE Life Sciences from $38.00 to $21.00 and set a "buy" rating on the stock in a research report on Friday, March 27th.

WAVE Life Sciences Trading Down 3.6%

WAVE Life Sciences stock opened at $5.91 on Thursday. The stock has a 50-day moving average price of $6.20 and a two-hundred day moving average price of $9.80. WAVE Life Sciences has a 12 month low of $5.02 and a 12 month high of $21.73. The company has a market capitalization of $1.14 billion, a PE ratio of -5.58 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly 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 return on equity of 56.76% and a negative net margin of 255.70%.The company had revenue of $38.25 million for the quarter, compared to analysts' expectations of $8.45 million. As a group, analysts predict that WAVE Life Sciences will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WAVE Life Sciences

Institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its holdings in shares of WAVE Life Sciences by 25.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 81,900 shares of the company's stock worth $476,000 after buying an additional 16,400 shares in the last quarter. Bank of America Corp DE increased its stake in shares of WAVE Life Sciences by 29.5% in the 1st quarter. Bank of America Corp DE now owns 236,760 shares of the company's stock valued at $1,717,000 after acquiring an additional 53,905 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of WAVE Life Sciences in the 1st quarter valued at $326,000. California State Teachers Retirement System lifted its position in shares of WAVE Life Sciences by 34.8% during the 1st quarter. California State Teachers Retirement System now owns 145,206 shares of the company's stock valued at $1,053,000 after acquiring an additional 37,526 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of WAVE Life Sciences by 31.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 240,983 shares of the company's stock valued at $1,747,000 after acquiring an additional 58,255 shares during the period. 89.73% of the stock is 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.

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