Wave Life Sciences pullback an ‘overreaction,’ says H.C. Wainwright

H.C. Wainwright analyst Andrew Fein says WVE-006’s latest dataset confirms “robust,” dose-dependent increases in functional M-AAT alongside meaningful reductions in pathogenic Z-AAT, but Wave’s stock is down by nearly 20% despite the “encouraging” data, which the analyst calls an “overreaction to unjustified threshold value ascribed for total AAT and M AAT levels.” These results strengthen the firm’s conviction that WVE-006 can deliver both lung and liver benefit and the firm thinks the current data without the 400 mg MAD data “still shows an approval endpoint,” according to the analyst, who has a Buy rating and $22 price target on Wave Life Sciences (WVE) shares.