WAVE Life Sciences (NASDAQ:WVE) Hits New 12-Month Low – What’s Next?

WAVE Life Sciences Ltd. (NASDAQ:WVE) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $4.63 and last traded at $4.6940, with a volume of 324311 shares traded. The stock had previously closed at $4.81.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WVE. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Friday, July 17th. Wells Fargo & Company boosted their price target on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating on shares of WAVE Life Sciences in a research report on Monday, August 3rd. Wedbush lowered their target price on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Finally, Zacks Research lowered shares of WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, WAVE Life Sciences currently has an average rating of “Moderate Buy” and an average target price of $22.31.

WAVE Life Sciences Stock Down 1.7%

The company has a 50-day moving average of $5.52 and a 200-day moving average of $7.27. The company has a market cap of $904.46 million, a PE ratio of -4.21 and a beta of -1.30.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The business had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. As a group, equities analysts predict that WAVE Life Sciences Ltd. will post -1.11 EPS for the current year.

Insider Activity

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 12,700 shares of WAVE Life Sciences stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Heidi L. Wagner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the sale, the director directly owned 44,930 shares in the company, valued at $270,029.30. This trade represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,564 shares of company stock valued at $132,476 in the last quarter. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

Several hedge funds have recently bought and sold shares of WVE. Smartleaf Asset Management LLC lifted its position in WAVE Life Sciences by 645.2% in the 4th 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% during the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock valued at $73,000 after acquiring an additional 9,284 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of WAVE Life Sciences by 44.8% during the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after acquiring an additional 3,609 shares in the last quarter. AlphaGrep UK Ltd purchased a new position in shares of WAVE Life Sciences during the second quarter worth approximately $78,000. Finally, Prudential Financial Inc. bought a new stake in shares of WAVE Life Sciences in the 2nd quarter worth approximately $80,000. 89.73% of the stock is currently owned by institutional investors.

WAVE Life Sciences Company Profile

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.