WAVE Life Sciences (NASDAQ:WVE) Given New $12.00 Price Target at Wedbush

Key Points

• Wedbush lowered WAVE Life Sciences’ price target to $12 from $15 while maintaining an “outperform” rating, implying roughly 108% upside from the $5.76 share price. Analysts overall rate the stock “Moderate Buy,” with an average target of $25.06.
• WAVE reported a quarterly loss of $0.34 per share, missing the $0.31 consensus estimate, while revenue of $2.27 million fell well short of the $6.53 million forecast. The company posted a negative net margin of 255.7%.
• The clinical-stage genetic medicines company is developing stereopure oligonucleotide therapies for conditions including Duchenne muscular dystrophy and Huntington’s disease; institutional investors own approximately 89.73% of its shares.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) had its price target reduced by investment analysts at Wedbush from $15.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's target price suggests a potential upside of 108.33% from the company's current price.

A number of other analysts have also issued reports on WVE. New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Wells Fargo & Company increased their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. Canaccord Genuity Group dropped their target price on WAVE Life Sciences from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. HC Wainwright reissued a "buy" rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. One investment 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.06.

WAVE Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $5.76 on Friday. WAVE Life Sciences has a 52 week low of $5.02 and a 52 week high of $21.73. The company has a market cap of $1.11 billion, a PE ratio of -5.43 and a beta of -1.29. The firm has a 50 day simple moving average of $5.99 and a 200 day simple moving average of $9.00.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.03). WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. The business had revenue of $2.27 million during the quarter, compared to analysts' expectations of $6.53 million. On average, equities analysts predict that WAVE Life Sciences will post -1.1 earnings per share for the current year.

Institutional Trading of WAVE Life Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of WAVE Life Sciences by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company's stock worth $463,000 after acquiring an additional 4,957 shares during the last quarter. Goldman Sachs Group Inc. grew its position in WAVE Life Sciences by 3.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company's stock worth $4,506,000 after purchasing an additional 20,624 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of WAVE Life Sciences by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 162,599 shares of the company's stock worth $1,057,000 after purchasing an additional 29,899 shares during the period. Prudential Financial Inc. acquired a new position in shares of WAVE Life Sciences during the second quarter valued at about $80,000. Finally, Norges Bank bought a new stake in shares of WAVE Life Sciences in the second quarter valued at about $650,000. 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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