Yes, though the option is labelled as Double Tap to Wake. I believe it is disabled by default.
Settings > Extras > Double Tap
Once you enable it, you can adjust the sensitivity. The default setting should be fine for most, but if you find it's waking too easily or not fast enough, you can adjust it.
Not sure about the last slider, I think it may switch it to double tap (instead of simple motion wake) when you increase it, but I have not tested it (nor could I get double tap to work, only raise to wake).
Once you make any changes, you have to hit the button at the bottom and then restart the device to apply the changes.