Wave Life Sciences (NASDAQ:WVE) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald started coverage on shares of Wave Life Sciences (NASDAQ:WVE - Get Free Report) in a research note issued on Tuesday, MarketBeat reports. The brokerage set an "overweight" rating and a $10.00 price target on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 23.46% from the company's current price. Cantor Fitzgerald also issued estimates for Wave Life Sciences' FY2025 earnings at ($1.09) EPS.

A number of other equities research analysts also recently weighed in on the stock. Wedbush assumed coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research note on Wednesday, March 26th. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price for the company. Finally, StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, March 8th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.17.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE traded up $0.16 during mid-day trading on Tuesday, reaching $8.10. 3,725,765 shares of the company traded hands, compared to its average volume of 1,239,684. Wave Life Sciences has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The firm has a market cap of $1.24 billion, a PE ratio of -7.30 and a beta of -0.93. The stock has a fifty day simple moving average of $8.21 and a 200-day simple moving average of $11.47.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.34. The company had revenue of $83.75 million for the quarter, compared to analysts' expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. As a group, analysts predict that Wave Life Sciences will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at Wave Life Sciences

In related news, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $9.77, for a total value of $102,585.00. Following the sale, the director now owns 16,115 shares of the company's stock, valued at approximately $157,443.55. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of Wave Life Sciences stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the sale, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. This trade represents a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.10% of the company's stock.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Moody Aldrich Partners LLC boosted its stake in shares of Wave Life Sciences by 31.5% during the 4th quarter. Moody Aldrich Partners LLC now owns 398,475 shares of the company's stock worth $4,929,000 after acquiring an additional 95,413 shares during the period. Arizona State Retirement System lifted its holdings in Wave Life Sciences by 34.2% during the 4th quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after purchasing an additional 7,846 shares during the last quarter. Corebridge Financial Inc. boosted its position in Wave Life Sciences by 10.7% during the fourth quarter. Corebridge Financial Inc. now owns 45,824 shares of the company's stock worth $567,000 after purchasing an additional 4,423 shares during the period. Barclays PLC increased its holdings in shares of Wave Life Sciences by 171.1% in the third quarter. Barclays PLC now owns 159,241 shares of the company's stock valued at $1,307,000 after purchasing an additional 100,498 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Wave Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock valued at $39,368,000 after purchasing an additional 294,956 shares during the period. Institutional investors own 89.73% of the company's stock.

About Wave Life Sciences

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.