WAVE Life Sciences (NASDAQ:WVE) Downgraded by Wall Street Zen to Strong Sell
by Amy Steele · The Cerbat GemWall Street Zen cut shares of WAVE Life Sciences (NASDAQ:WVE – Free Report) from a sell rating to a strong sell rating in a research note issued to investors on Sunday.
A number of other equities research analysts have also recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of WAVE Life Sciences in a report on Monday, March 2nd. UBS Group set a $32.00 price objective on WAVE Life Sciences in a report on Tuesday, December 16th. Cantor Fitzgerald boosted their price objective on WAVE Life Sciences from $34.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Mizuho lifted their price target on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Finally, Oppenheimer lifted their price target on shares of WAVE Life Sciences from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.38.
Get Our Latest Stock Report on WVE
WAVE Life Sciences Stock Performance
WAVE Life Sciences stock opened at $7.18 on Friday. WAVE Life Sciences has a 52 week low of $5.02 and a 52 week high of $21.73. The stock has a market capitalization of $1.35 billion, a P/E ratio of -5.89 and a beta of -1.32. The stock has a 50-day simple moving average of $11.67 and a 200 day simple moving average of $11.26.
WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.68 million. Research analysts forecast that WAVE Life Sciences will post -1.14 earnings per share for the current year.
Insider Activity at WAVE Life Sciences
In related news, CFO Kyle Moran sold 3,588 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $13.45, for a total value of $48,258.60. Following the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at $1,807,478.25. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chandra Vargeese sold 3,228 shares of the business’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 $43,416.60. Following the completion of the sale, the insider directly owned 408,246 shares in the company, valued at approximately $5,490,908.70. This represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 52,373 shares of company stock valued at $757,527 over the last three months. 23.98% of the stock is currently owned by corporate insiders.
Institutional Trading of WAVE Life Sciences
A number of large investors have recently bought and sold shares of the business. Hsbc Holdings PLC boosted its position in shares of WAVE Life Sciences by 52.1% during the 4th quarter. Hsbc Holdings PLC now owns 16,990 shares of the company’s stock worth $291,000 after purchasing an additional 5,823 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of WAVE Life Sciences in the 4th quarter worth about $176,000. Virtu Financial LLC acquired a new stake in shares of WAVE Life Sciences in the 4th quarter worth about $457,000. Invesco Ltd. raised its holdings in shares of WAVE Life Sciences by 27.5% in the 4th quarter. Invesco Ltd. now owns 179,932 shares of the company’s stock worth $3,059,000 after acquiring an additional 38,806 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of WAVE Life Sciences in the 4th quarter worth about $12,278,000. 89.73% of the stock is currently owned by institutional investors and hedge funds.
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.