WAVE Life Sciences (NASDAQ:WVE) Reaches New 12-Month Low – Should You Sell?

WAVE Life Sciences Ltd. (NASDAQ:WVE) hit a new 52-week low on Monday . The stock traded as low as $4.86 and last traded at $4.8850, with a volume of 314259 shares changing hands. The stock had previously closed at $5.04.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WVE. B. Riley Financial decreased their price target on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Mizuho cut their price objective on shares of WAVE Life Sciences from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Wells Fargo & Company increased their price objective on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. New Street Research set a $13.00 target price on shares of WAVE Life Sciences in a report on Thursday, June 11th. Finally, Zacks Research cut shares of WAVE Life Sciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Fourteen research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.53.

WAVE Life Sciences Trading Up 1.4%

The business’s 50-day simple moving average is $5.70 and its two-hundred day simple moving average is $7.68. The firm has a market cap of $979.33 million, a price-to-earnings ratio of -4.56 and a beta of -1.26.

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 business had revenue of $2.27 million during 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%. On average, analysts forecast that WAVE Life Sciences Ltd. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Heidi L. Wagner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the sale, the director directly owned 44,930 shares of the company’s stock, valued at $270,029.30. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Adrian Rawcliffe sold 12,700 shares of the company’s 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,564 shares of company stock worth $132,476. Corporate insiders own 24.30% of the company’s stock.

Institutional Trading of WAVE Life Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG lifted its holdings in shares of WAVE Life Sciences by 1.5% in the fourth quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock valued at $1,627,000 after purchasing an additional 1,441 shares in the last quarter. AlphaCentric Advisors LLC grew its holdings in WAVE Life Sciences by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock worth $212,000 after buying an additional 1,585 shares in the last quarter. First Trust Advisors LP raised its position in WAVE Life Sciences by 15.7% in the 1st quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock valued at $98,000 after buying an additional 1,830 shares during the last quarter. Smartleaf Asset Management LLC raised 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 valued at $38,000 after buying an additional 1,942 shares during the last quarter. Finally, CWM LLC lifted its stake in WAVE Life Sciences by 6,729.0% during the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after acquiring an additional 2,086 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

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.