Wave Life Sciences (NASDAQ:WVE) Price Target Raised to $22.00

Wave Life Sciences (NASDAQ:WVE) had its price objective hoisted by HC Wainwright from $15.00 to $22.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Wave Life Sciences’ FY2025 earnings at ($0.67) EPS, FY2026 earnings at $0.10 EPS, FY2027 earnings at $0.73 EPS and FY2028 earnings at $1.23 EPS.

WVE has been the topic of several other research reports. Mizuho reaffirmed an outperform rating and set a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday, June 25th. JPMorgan Chase & Co. assumed coverage on Wave Life Sciences in a report on Monday, September 9th. They issued an overweight rating and a $10.00 price target for the company. Finally, B. Riley began coverage on Wave Life Sciences in a report on Thursday, September 19th. They set a buy rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Wave Life Sciences presently has a consensus rating of Moderate Buy and a consensus price target of $13.75.

Wave Life Sciences Trading Up 3.4 %

Shares of WVE opened at $8.29 on Wednesday. The stock has a market cap of $1.02 billion, a P/E ratio of -15.94 and a beta of -1.13. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $9.92. The stock’s 50-day moving average price is $6.03 and its two-hundred day moving average price is $5.85.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter in the prior year, the firm posted ($0.20) EPS. As a group, equities analysts forecast that Wave Life Sciences will post -1.04 EPS for the current year.

Insider Buying and Selling

In other news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares in the company, valued at $2,075,361.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the transaction, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. The disclosure for this sale can be found here. 29.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank bought a new stake in Wave Life Sciences in the fourth quarter valued at approximately $770,000. Teacher Retirement System of Texas bought a new stake in Wave Life Sciences in the 4th quarter valued at $86,000. Trexquant Investment LP acquired a new stake in Wave Life Sciences during the 4th quarter valued at $162,000. TD Asset Management Inc boosted its position in Wave Life Sciences by 26.5% during the fourth quarter. TD Asset Management Inc now owns 205,746 shares of the company’s stock worth $1,039,000 after purchasing an additional 43,054 shares during the period. Finally, Monashee Investment Management LLC acquired a new position in shares of Wave Life Sciences in the fourth quarter valued at $522,000. Institutional investors own 89.73% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.