WAVE Life Sciences (NASDAQ:WVE) Hits New 1-Year Low - Should You Sell?

Key Points

• WAVE Life Sciences shares hit a new 52-week low, trading as low as $4.40 and down 2.6%, with the stock below both its 50-day and 200-day moving averages.
• Despite the decline, analyst sentiment remains broadly positive: 14 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $22.31. However, several firms recently lowered their targets.
• The company reported weaker-than-expected quarterly results, including a loss of $0.34 per share versus expectations of $0.30 and revenue of $2.27 million versus estimates of $7.45 million; insiders also sold shares during the quarter.

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $4.40 and last traded at $4.46, with a volume of 2466798 shares trading hands. The stock had previously closed at $4.58.

Analyst Ratings Changes

WVE has been the subject of a number of research analyst reports. Citigroup decreased their price objective on shares of WAVE Life Sciences from $24.00 to $19.00 and set a "buy" rating for the company in a report on Friday, July 31st. Wedbush cut their price target on 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. Wells Fargo & Company lifted their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. Finally, Zacks Research lowered WAVE Life Sciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.31.

WAVE Life Sciences Trading Down 2.6%

The stock has a market capitalization of $878.84 million, a PE ratio of -4.09 and a beta of -1.30. The stock has a 50 day moving average price of $5.44 and a 200-day moving average price of $7.08.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%.The firm had revenue of $2.27 million for the quarter, compared to analysts' expectations of $7.45 million. Research analysts forecast that WAVE Life Sciences Ltd. will post -1.11 earnings per share for the current year.

Insider Buying and Selling

In other WAVE Life Sciences news, Director Heidi L. Wagner sold 7,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $6.01, for a total transaction of $42,070.00. Following the transaction, the director directly owned 44,930 shares of the company's stock, valued at approximately $270,029.30. This trade represents a 13.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adrian Rawcliffe sold 12,700 shares of WAVE Life Sciences stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,564 shares of company stock worth $132,476 over the last quarter. 24.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of large investors have recently bought and sold shares of WVE. Integrated Wealth Concepts LLC acquired a new stake in shares of WAVE Life Sciences during the 2nd quarter worth approximately $180,000. Squarepoint Ops LLC grew its stake in WAVE Life Sciences by 68.0% during the 2nd quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company's stock worth $14,766,000 after buying an additional 1,029,052 shares during the last quarter. Arizona State Retirement System grew its stake in WAVE Life Sciences by 17.1% during the 2nd quarter. Arizona State Retirement System now owns 35,826 shares of the company's stock worth $208,000 after buying an additional 5,228 shares during the last quarter. Readystate Asset Management LP acquired a new stake in WAVE Life Sciences in the second quarter worth $27,465,000. Finally, AlphaGrep UK Ltd acquired a new stake in WAVE Life Sciences in the second quarter worth $78,000. Hedge funds and other institutional investors own 89.73% of the company's stock.

About WAVE Life Sciences

WAVE Life Sciences Ltd. NASDAQ: WVE is a biotechnology company focused on developing medicines that target RNA, the biological molecule that helps translate genetic information into proteins. The company uses its oligonucleotide chemistry and delivery technologies to pursue treatments for genetically defined diseases, including conditions affecting the liver, muscles and nervous system.

WAVE's research programs include RNA editing medicines designed to correct or modify disease-related genetic messages without permanently altering DNA.

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