WAVE Life Sciences (NASDAQ:WVE) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded WAVE Life Sciences from a "sell" to a "strong sell" in a recent report.
• Despite that downgrade, the stock carries a consensus rating of "Moderate Buy" with a consensus price target of $31.38 and the majority of analysts rating it Buy/Strong Buy.
• Fundamentals show shares at about $7.18 with a $1.35B market cap, negative EPS and margins for the quarter, and notable insider selling (CEO and CFO sold shares; insiders own ~23.98%).

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Sunday.

Several other research analysts also recently commented on the company. Mizuho lifted their price target on WAVE Life Sciences from $22.00 to $27.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 25th. Cantor Fitzgerald lifted their price target on WAVE Life Sciences from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of WAVE Life Sciences in a research report on Monday, March 2nd. Wedbush boosted their price objective on WAVE Life Sciences from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, March 6th. Finally, Truist Financial upgraded WAVE Life Sciences to a "strong-buy" rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.38.

WAVE Life Sciences Stock Up 0.3%

Shares of NASDAQ WVE opened at $7.18 on Friday. The business's 50 day moving average is $11.67 and its two-hundred day moving average is $11.23. The company has a market cap of $1.35 billion, a P/E ratio of -5.89 and a beta of -1.32. WAVE Life Sciences has a 12 month low of $5.02 and a 12 month high of $21.73.

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

Insiders Place Their Bets

In other WAVE Life Sciences news, CEO Paul Bolno sold 10,480 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 $140,956.00. Following the transaction, the chief executive officer owned 275,520 shares of the company's stock, valued at approximately $3,705,744. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the chief financial officer directly owned 134,385 shares in the company, valued at approximately $1,807,478.25. This represents a 2.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,373 shares of company stock worth $757,527 in the last three months. Company insiders own 23.98% of the company's stock.

Hedge Funds Weigh In On WAVE Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC boosted its stake in WAVE Life Sciences by 736.5% in the third quarter. Voya Investment Management LLC now owns 258,011 shares of the company's stock worth $1,889,000 after purchasing an additional 227,167 shares in the last quarter. Federated Hermes Inc. increased its holdings in WAVE Life Sciences by 678,144.7% in the third quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company's stock valued at $27,455,000 after purchasing an additional 3,750,140 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in WAVE Life Sciences by 77.8% in the second quarter. China Universal Asset Management Co. Ltd. now owns 93,370 shares of the company's stock valued at $607,000 after purchasing an additional 40,850 shares during the last quarter. GSA Capital Partners LLP bought a new stake in WAVE Life Sciences in the third quarter valued at about $375,000. Finally, Knott David M Jr increased its holdings in WAVE Life Sciences by 125.0% in the third quarter. Knott David M Jr now owns 90,000 shares of the company's stock valued at $659,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

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.

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