WAVE Life Sciences (NASDAQ:WVE – Free Report) had its target price cut by Mizuho from $27.00 to $23.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.
A number of other analysts have also recently issued reports on WVE. Wall Street Zen cut WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. B. Riley Financial dropped 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. HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a research note on Monday. Citigroup reduced their price target on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Canaccord Genuity Group lowered their price target on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, WAVE Life Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $22.53.
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WAVE Life Sciences Stock Performance
WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The company had revenue of $2.27 million for the quarter, compared to analyst estimates of $7.45 million. Equities analysts anticipate that WAVE Life Sciences will post -1.12 EPS for the current fiscal year.
Institutional Investors Weigh In On WAVE Life Sciences
A number of large investors have recently bought and sold shares of the business. GSK plc acquired a new position in shares of WAVE Life Sciences during the 4th quarter valued at about $310,177,000. Darwin Global Management Ltd. bought a new stake in WAVE Life Sciences during the fourth quarter worth approximately $125,168,000. Price T Rowe Associates Inc. MD grew its holdings in WAVE Life Sciences by 83.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after purchasing an additional 3,362,880 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of WAVE Life Sciences by 20.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after purchasing an additional 2,500,000 shares during the period. Finally, Primecap Management Co. CA lifted its stake in shares of WAVE Life Sciences by 115.7% in the fourth quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock worth $69,620,000 after buying an additional 2,196,632 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.
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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