Wells Fargo lowered the firm’s price target on Wave Life Sciences (WVE) to $13 from $27 and keeps an Overweight rating on the shares. The firm has less conviction that Activin E knockdown in the liver will drive fat loss given the WVE-007 400mg data. For alpha-1 antitrypsin deficiency, Wells thinks a clear dose response improves sentiment, and that 9-10uM mutant alpha-1 antitrypsin with the 400mg multiple-ascending-dose seems possible.
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