WAVE Life Sciences (NASDAQ:WVE) Given New $43.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut its price target on WAVE from $52 to $43 but kept a "buy" rating; overall analyst coverage is largely positive with 14 Buys, 1 Sell and a consensus Moderate Buy and an average target of $27.88.
• WAVE reported a notable quarterly revenue beat — $38.25M vs. $8.45M expected — and EPS of ($0.13) that beat estimates, yet the company remains unprofitable with a negative net margin of 478% and analysts forecasting -1.39 EPS for the year.
• Shares trade around $7.06 (12‑month range $5.02–$21.73) with a market cap of about $1.33B; insiders sold ~52,373 shares recently (including CEO and CFO) and insiders own ~23.98% while institutional ownership is reported at ~89.73%.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) had its price objective cut by equities research analysts at Canaccord Genuity Group from $52.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock.

Several other equities research analysts have also commented on WVE. Truist Financial started coverage on shares of WAVE Life Sciences in a research note on Wednesday. They issued a "buy" rating and a $15.00 price target on the stock. HC Wainwright lowered their target price on WAVE Life Sciences from $30.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Wall Street Zen lowered WAVE Life Sciences from a "sell" rating to a "strong sell" rating in a research report on Sunday, April 12th. Cantor Fitzgerald boosted 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. Finally, Bank of America reduced their price target on WAVE Life Sciences from $38.00 to $21.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, WAVE Life Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $27.88.

WAVE Life Sciences Price Performance

Shares of NASDAQ:WVE traded up $0.01 during trading on Thursday, reaching $7.06. 3,380,190 shares of the company's stock traded hands, compared to its average volume of 4,314,261. WAVE Life Sciences has a 12 month low of $5.02 and a 12 month high of $21.73. The company has a 50 day moving average of $10.16 and a 200-day moving average of $11.24. The stock has a market capitalization of $1.33 billion, a P/E ratio of -5.79 and a beta of -1.32.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.21. The business had revenue of $38.25 million during the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 85.69%. Equities research analysts predict that WAVE Life Sciences will post -1.39 earnings per share for the current fiscal year.

Insider Activity at WAVE Life Sciences

In other news, CEO Paul Bolno sold 10,480 shares of the company's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $13.45, for a total value of $140,956.00. Following the completion of the sale, the chief executive officer directly owned 275,520 shares of the company's stock, valued at approximately $3,705,744. This represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kyle Moran sold 3,588 shares of the company's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $48,258.60. Following the completion of the sale, the chief financial officer directly owned 134,385 shares of the company's stock, valued at approximately $1,807,478.25. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 52,373 shares of company stock valued at $757,527. 23.98% of the stock is currently owned by insiders.

Institutional Trading of WAVE Life Sciences

A number of institutional investors have recently made changes to their positions in WVE. Federated Hermes Inc. lifted its stake in WAVE Life Sciences by 678,144.7% during 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. GSA Capital Partners LLP acquired a new stake in WAVE Life Sciences during the third quarter valued at approximately $375,000. Knott David M Jr lifted its stake in WAVE Life Sciences by 125.0% during 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. Fox Run Management L.L.C. acquired a new stake in WAVE Life Sciences during the third quarter valued at approximately $307,000. Finally, HighVista Strategies LLC lifted its stake in WAVE Life Sciences by 64.8% during the third quarter. HighVista Strategies LLC now owns 59,261 shares of the company's stock valued at $434,000 after purchasing an additional 23,303 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

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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