WAVE Life Sciences (NASDAQ:WVE) Earns Buy Rating from Analysts at Bank of America

Equities research analysts at Bank of America started coverage on shares of WAVE Life Sciences (NASDAQ:WVE) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $38.00 price target on the stock. Bank of America‘s price objective would suggest a potential upside of 178.49% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Wedbush lifted their price target on shares of WAVE Life Sciences from $20.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Canaccord Genuity Group increased their price target on WAVE Life Sciences from $40.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen raised WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, January 11th. Raymond James Financial reissued an “outperform” rating and set a $21.00 price objective on shares of WAVE Life Sciences in a research report on Monday, December 8th. Finally, UBS Group set a $32.00 price target on shares of WAVE Life Sciences in a research report on Tuesday, December 16th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $32.69.

WAVE Life Sciences Stock Up 2.4%

Shares of NASDAQ WVE traded up $0.32 during midday trading on Thursday, reaching $13.65. 997,031 shares of the company were exchanged, compared to its average volume of 4,306,910. The stock’s 50-day moving average price is $14.39 and its 200-day moving average price is $10.20. The stock has a market cap of $2.28 billion, a P/E ratio of -18.19 and a beta of -1.78. WAVE Life Sciences has a one year low of $5.28 and a one year high of $21.73.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. The firm had revenue of $7.61 million for the quarter, compared to analyst estimates of $9.85 million. On average, equities research analysts anticipate that WAVE Life Sciences will post -1.14 EPS for the current year.

Insider Activity at WAVE Life Sciences

In other WAVE Life Sciences news, Director Christian O. Henry sold 93,445 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $14.65, for a total transaction of $1,368,969.25. Following the completion of the transaction, the director owned 12,700 shares of the company’s stock, valued at approximately $186,055. This trade represents a 88.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adrian Rawcliffe sold 42,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $15.00, for a total value of $630,000.00. Following the transaction, the director directly owned 12,700 shares of the company’s stock, valued at approximately $190,500. This represents a 76.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 912,117 shares of company stock valued at $13,464,044 over the last 90 days. Company insiders own 23.98% of the company’s stock.

Hedge Funds Weigh In On WAVE Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC grew its stake in WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after acquiring an additional 2,086 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after purchasing an additional 9,135 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of WAVE Life Sciences by 1,441.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after buying an additional 9,284 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of WAVE Life Sciences by 18.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock worth $74,000 after buying an additional 1,802 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of WAVE Life Sciences by 44.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after purchasing an additional 3,609 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.