WAVE Life Sciences (NASDAQ:WVE) Price Target Raised to $27.00 at Mizuho

WAVE Life Sciences (NASDAQ:WVE) had its price target boosted by equities research analysts at Mizuho from $22.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 117.43% from the company’s current price.

WVE has been the topic of several other research reports. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Royal Bank Of Canada upgraded WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $9.00 to $27.00 in a report on Monday, December 8th. Wedbush lifted their target price on WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Cantor Fitzgerald boosted their target price 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, Truist Financial increased their price target on WAVE Life Sciences from $36.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WAVE Life Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.31.

WAVE Life Sciences Stock Performance

NASDAQ WVE traded up $0.79 on Wednesday, reaching $12.42. The company’s stock had a trading volume of 765,892 shares, compared to its average volume of 3,314,490. WAVE Life Sciences has a twelve month low of $5.28 and a twelve month high of $21.73. The firm’s 50 day moving average is $13.28 and its two-hundred day moving average is $11.23. The stock has a market cap of $2.34 billion, a PE ratio of -10.17 and a beta of -1.77.

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

Insiders Place Their Bets

In related news, CEO Paul Bolno sold 10,480 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $140,956.00. Following the transaction, the chief executive officer directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Moran sold 3,588 shares of the stock in a transaction dated 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 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. Insiders have sold 61,748 shares of company stock worth $907,809 over 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of WAVE Life Sciences by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after purchasing an additional 4,957 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of WAVE Life Sciences by 3.8% during the first 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 period. Geode Capital Management LLC boosted its holdings in shares of WAVE Life Sciences by 6.4% during the second quarter. Geode Capital Management LLC now owns 2,759,381 shares of the company’s stock worth $17,938,000 after purchasing an additional 166,982 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in WAVE Life Sciences by 24.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 25,789 shares of the company’s stock valued at $168,000 after purchasing an additional 5,041 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in WAVE Life Sciences during the second quarter valued at approximately $2,036,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.