WAVE Life Sciences (NASDAQ:WVE) Hits New 1-Year Low – Time to Sell?

WAVE Life Sciences Ltd. (NASDAQ:WVE)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.01 and last traded at $5.05, with a volume of 6892596 shares trading hands. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WVE shares. Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. Zacks Research upgraded shares of WAVE Life Sciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. B. Riley Financial cut their price objective on shares of WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Finally, Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.53.

WAVE Life Sciences Price Performance

The company has a market cap of $995.10 million, a P/E ratio of -4.63 and a beta of -1.26. The stock has a 50-day moving average of $5.91 and a 200 day moving average of $8.54.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The firm had revenue of $2.27 million for the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. Sell-side analysts predict that WAVE Life Sciences Ltd. will post -1.12 EPS for the current year.

Institutional Trading of WAVE Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GSK plc acquired a new stake in shares of WAVE Life Sciences during the 4th quarter worth approximately $310,177,000. Adage Capital Partners GP L.L.C. raised its position in WAVE Life Sciences by 20.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after purchasing an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in WAVE Life Sciences by 83.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock valued at $125,927,000 after purchasing an additional 3,362,880 shares in the last quarter. Darwin Global Management Ltd. bought a new stake in WAVE Life Sciences during the fourth quarter worth $125,168,000. Finally, Federated Hermes Inc. lifted its stake in WAVE Life Sciences by 26.5% during the fourth quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock worth $80,657,000 after purchasing an additional 993,827 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

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.