Zacks Research Upgrades WAVE Life Sciences (NASDAQ:WVE) to Strong-Buy

WAVE Life Sciences (NASDAQ:WVE) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a report on Saturday, May 2nd. Mizuho boosted their price objective 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. Bank of America dropped their price objective on shares of WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a report on Thursday, June 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.41.

WAVE Life Sciences Trading Down 0.9%

Shares of NASDAQ WVE opened at $5.74 on Tuesday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.42 and a beta of -1.29. WAVE Life Sciences has a twelve month low of $5.02 and a twelve month high of $21.73. The business has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $9.39.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.21. The firm had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $8.45 million. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%. As a group, equities analysts predict that WAVE Life Sciences will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On WAVE Life Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its stake in WAVE Life Sciences by 6,729.0% during the fourth quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after purchasing an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC grew its position in WAVE Life Sciences by 645.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after buying an additional 1,942 shares during the last quarter. Russell Investments Group Ltd. grew its position in WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after buying an additional 9,284 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after buying an additional 3,609 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of WAVE Life Sciences during the 2nd quarter valued at $80,000. 89.73% of the stock is 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.