WAVE Life Sciences (NASDAQ:WVE – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.
A number of other research analysts have also weighed in on WVE. Wells Fargo & Company raised their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. B. Riley Financial decreased their target price on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Friday, July 17th. Wall Street Zen downgraded WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Truist Financial assumed coverage on WAVE Life Sciences in a research note on Wednesday, April 29th. They issued a “buy” rating and a $15.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.53.
Check Out Our Latest Analysis on WVE
WAVE Life Sciences Stock Performance
WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The company had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, research analysts predict that WAVE Life Sciences will post -1.11 earnings per share for the current year.
Insider Buying and Selling at WAVE Life Sciences
In other WAVE Life Sciences news, Director Heidi L. Wagner sold 7,000 shares of WAVE Life Sciences stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Adrian Rawcliffe sold 12,700 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total transaction of $67,183.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,564 shares of company stock worth $132,476 in the last 90 days. 24.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On WAVE Life Sciences
A number of large investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its position in WAVE Life Sciences by 5,024.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock valued at $13,830,000 after acquiring an additional 790,175 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of WAVE Life Sciences by 152.6% during the first quarter. Renaissance Technologies LLC now owns 597,220 shares of the company’s stock worth $4,330,000 after purchasing an additional 360,800 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of WAVE Life Sciences during the fourth quarter valued at $1,530,000. F m Investments LLC boosted its stake in shares of WAVE Life Sciences by 24.5% during the fourth quarter. F m Investments LLC now owns 395,894 shares of the company’s stock valued at $6,730,000 after purchasing an additional 77,807 shares during the period. Finally, Elmind Capital LP bought a new position in shares of WAVE Life Sciences in the fourth quarter worth about $7,613,000. 89.73% of the stock is 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.
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