WAVE Life Sciences (NASDAQ:WVE) Reaches New 12-Month Low - What's Next?

Key Points

• WAVE Life Sciences fell to a new 52-week low, trading as low as $4.86, below its 50-day and 200-day moving averages of $5.74 and $7.80.
• Analyst sentiment remains broadly positive, with 14 Buy ratings and a consensus target price of $22.53, although some firms recently downgraded the stock or reduced their targets.
• The company reported weaker-than-expected quarterly results, including an EPS loss of $0.34 versus the expected $0.30 loss and revenue of $2.27 million versus $7.45 million expected; insiders sold 23,564 shares over the past 90 days.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $4.86 and last traded at $4.8850, with a volume of 314259 shares. The stock had previously closed at $5.04.

Analysts Set New Price Targets

A number of research analysts recently commented on WVE shares. Wall Street Zen cut WAVE Life Sciences from a "hold" rating to a "strong sell" rating in a report on Saturday, August 1st. Wedbush lowered their price target on shares of WAVE Life Sciences from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Wells Fargo & Company boosted their price objective on WAVE Life Sciences from $13.00 to $14.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Zacks Research downgraded WAVE Life Sciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Finally, New Street Research set a $13.00 target price on shares of WAVE Life Sciences in a report on Thursday, June 11th. 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.53.

WAVE Life Sciences Price Performance

The business has a fifty day simple moving average of $5.74 and a two-hundred day simple moving average of $7.80. The company has a market cap of $972.44 million, a PE ratio of -4.52 and a beta of -1.26.

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

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Adrian Rawcliffe sold 12,700 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total transaction of $67,183.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heidi L. Wagner sold 7,000 shares of the company's stock in a transaction that occurred 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 owned 44,930 shares in the company, valued at $270,029.30. The trade was a 13.48% decrease in their position. 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 ninety days. Corporate insiders own 24.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WVE. CWM LLC raised its holdings in shares of WAVE Life Sciences by 6,729.0% during the fourth quarter. CWM LLC now owns 2,117 shares of the company's stock worth $36,000 after purchasing an additional 2,086 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in WAVE Life Sciences by 645.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company's stock worth $38,000 after acquiring an additional 1,942 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in WAVE Life Sciences during the fourth quarter worth about $82,000. Russell Investments Group Ltd. raised 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 in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of WAVE Life Sciences during the 4th quarter valued at approximately $182,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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