WAVE Life Sciences Ltd. (NASDAQ:WVE – Get Free Report) traded down 8.3% during trading on Friday . The company traded as low as $5.89 and last traded at $5.7890. Approximately 506,431 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,076,644 shares. The stock had previously closed at $6.31.
Analyst Upgrades and Downgrades
WVE has been the subject of several analyst reports. Wells Fargo & Company raised their price target on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Citigroup cut their price objective on shares of WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Monday, April 20th. Finally, Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Fourteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.
Check Out Our Latest Stock Analysis on WAVE Life Sciences
WAVE Life Sciences Stock Performance
WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. The firm had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. As a group, sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 EPS for the current fiscal year.
Institutional Investors Weigh In On WAVE Life Sciences
Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. CWM LLC grew its position in WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock worth $36,000 after purchasing an additional 2,086 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of WAVE Life Sciences by 645.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after buying an additional 1,942 shares during the period. Russell Investments Group Ltd. lifted its holdings 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. Tower Research Capital LLC TRC boosted its stake in shares of WAVE Life Sciences by 44.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after buying an additional 3,609 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of WAVE Life Sciences in the 2nd quarter worth $80,000. Hedge funds and other institutional investors 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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