Wave Life Sciences (NASDAQ:WVE) Earns Outperform Rating from Analysts at Wedbush

Analysts at Wedbush began coverage on shares of Wave Life Sciences (NASDAQ:WVE - Get Free Report) in a report issued on Tuesday, MarketBeat.com reports. The firm set an "outperform" rating and a $18.00 price target on the stock. Wedbush's target price points to a potential upside of 218.58% from the company's current price. Wedbush also issued estimates for Wave Life Sciences' Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.26) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at ($0.24) EPS, FY2025 earnings at ($1.04) EPS and FY2026 earnings at ($1.14) EPS.

Several other equities analysts have also commented on the company. Jefferies Financial Group initiated coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded shares of Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wave Life Sciences has an average rating of "Moderate Buy" and an average target price of $22.18.

Wave Life Sciences Stock Performance

Wave Life Sciences stock traded up $0.17 during mid-day trading on Tuesday, hitting $5.65. 963,170 shares of the company traded hands, compared to its average volume of 1,180,958. Wave Life Sciences has a one year low of $4.25 and a one year high of $16.74. The stock has a market cap of $867.20 million, a price-to-earnings ratio of -5.09 and a beta of -0.93. The stock has a fifty day moving average price of $9.44 and a 200-day moving average price of $11.66.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.34. The company had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. Sell-side analysts predict that Wave Life Sciences will post -1.14 EPS for the current year.

Insider Buying and Selling at Wave Life Sciences

In other news, CEO Paul Bolno sold 169,025 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total value of $1,617,569.25. Following the completion of the sale, the chief executive officer now directly owns 338,351 shares of the company's stock, valued at approximately $3,238,019.07. This trade represents a 33.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at $157,443.55. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Wave Life Sciences by 209.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company's stock valued at $6,926,000 after buying an additional 571,345 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Wave Life Sciences by 20.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 168,141 shares of the company's stock worth $1,379,000 after acquiring an additional 28,351 shares in the last quarter. FMR LLC lifted its position in Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company's stock valued at $12,630,000 after acquiring an additional 979,110 shares during the period. BNP Paribas Financial Markets boosted its stake in Wave Life Sciences by 477.7% during the third quarter. BNP Paribas Financial Markets now owns 41,828 shares of the company's stock worth $343,000 after acquiring an additional 34,588 shares in the last quarter. Finally, State Street Corp grew its holdings in Wave Life Sciences by 2.6% in the third quarter. State Street Corp now owns 2,321,248 shares of the company's stock worth $19,034,000 after purchasing an additional 57,822 shares during the period. Institutional investors own 89.73% of the company's stock.

Wave Life Sciences Company Profile

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.