WAVE Life Sciences (NASDAQ:WVE) Hits New 52-Week Low - Should You Sell?

Key Points

• WAVE Life Sciences fell to a new 52-week low of $3.65, trading below its 50-day and 200-day moving averages. The company reported a quarterly EPS loss of $0.34 and revenue of $2.27 million, both below analyst expectations.
• Despite the decline, analyst sentiment remains generally positive: 14 analysts rate the stock Buy, two rate it Hold and one rates it Sell. The consensus rating is “Moderate Buy,” with a target price of $22.31.
• Insiders sold 23,564 shares worth $132,476 over the past 90 days, while institutional investors own approximately 89.73% of the company. WAVE develops RNA-targeting medicines, including therapies designed to edit disease-related genetic messages.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report)'s stock price reached a new 52-week low during trading on Monday. The stock traded as low as $3.65 and last traded at $3.6150, with a volume of 155215 shares trading hands. The stock had previously closed at $3.78.

Analysts Set New Price Targets

Several analysts recently issued reports on WVE shares. Weiss Ratings reissued a "sell (d-)" rating on shares of WAVE Life Sciences in a report on Friday, July 17th. Mizuho lowered their price objective on WAVE Life Sciences from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, August 4th. UBS Group set a $13.00 target price on WAVE Life Sciences in a research report on Monday, August 3rd. HC Wainwright reiterated a "buy" rating on shares of WAVE Life Sciences in a research note on Monday, August 3rd. Finally, New Street Research set a $13.00 target price on WAVE Life Sciences in a research note on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.31.

WAVE Life Sciences Stock Down 2.8%

The firm's 50 day simple moving average is $5.15 and its 200 day simple moving average is $6.55. The company has a market cap of $724.16 million, a price-to-earnings ratio of -3.36 and a beta of -1.30.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) earnings per share (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 business had revenue of $2.27 million for the quarter, compared to analyst estimates of $7.45 million. Analysts anticipate that WAVE Life Sciences Ltd. will post -1.12 EPS for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Adrian Rawcliffe sold 12,700 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total value of $67,183.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $42,070.00. Following the transaction, the director directly owned 44,930 shares in the company, valued at $270,029.30. This trade represents a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,564 shares of company stock worth $132,476 in the last ninety days. 24.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On WAVE Life Sciences

Several institutional investors have recently bought and sold shares of the stock. Readystate Asset Management LP acquired a new position in WAVE Life Sciences during the 2nd quarter valued at about $27,465,000. Squarepoint Ops LLC lifted its stake in shares of WAVE Life Sciences by 68.0% in the 2nd quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company's stock worth $14,766,000 after acquiring an additional 1,029,052 shares during the period. Eventide Asset Management LLC acquired a new stake in shares of WAVE Life Sciences in the 4th quarter worth approximately $8,500,000. Pictet Asset Management Holding SA boosted its holdings in shares of WAVE Life Sciences by 42.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,149,127 shares of the company's stock valued at $8,202,000 after acquiring an additional 343,226 shares in the last quarter. Finally, Elmind Capital LP acquired a new position in shares of WAVE Life Sciences during the fourth quarter valued at approximately $7,613,000. Institutional investors and hedge funds own 89.73% of the company's stock.

WAVE Life Sciences Company Profile

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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