HC Wainwright Raises Wave Life Sciences (NASDAQ:WVE) Price Target to $22.00

Wave Life Sciences (NASDAQ:WVE) had its price target raised by HC Wainwright from $15.00 to $22.00 in a research report released on Wednesday morning, Benzinga reports. They currently have 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.

Several other analysts have also recently weighed in on WVE. JPMorgan Chase & Co. started coverage on shares of Wave Life Sciences in a research note on Monday, September 9th. They issued an overweight rating and a $10.00 price objective for the company. B. Riley assumed coverage on shares of Wave Life Sciences in a research report on Thursday, September 19th. They issued a buy rating and a $11.00 price target for the company. Finally, Mizuho reiterated an outperform rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $13.75.

Wave Life Sciences Trading Up 3.4 %

NASDAQ:WVE opened at $8.29 on Wednesday. The stock has a 50 day simple moving average of $6.03 and a 200 day simple moving average of $5.85. 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.

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

Insider Buying and Selling at Wave Life Sciences

In other news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following 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. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Swiss National Bank acquired a new position in shares of Wave Life Sciences in the fourth quarter valued at approximately $770,000. SG Americas Securities LLC acquired a new position in Wave Life Sciences in the 2nd quarter valued at approximately $668,000. Vanguard Group Inc. raised its stake in shares of Wave Life Sciences by 39.7% during the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Wave Life Sciences during the fourth quarter worth $174,000. Finally, Capstone Investment Advisors LLC grew its stake in shares of Wave Life Sciences by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after purchasing an additional 4,500 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.