WAVE Life Sciences (NASDAQ:WVE) Sets New 12-Month Low - Time to Sell?

Key Points

• WAVE Life Sciences fell to a new 52-week low of $4.20, trading down 2.1% with its price below both its 50-day and 200-day moving averages.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and a $22.31 price target, although several firms recently reduced their targets.
• The company reported weaker-than-expected quarterly results, including a $0.34 loss per share versus the projected $0.30 loss and revenue of $2.27 million against estimates of $7.45 million; insiders also sold shares recently.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.20 and last traded at $4.26, with a volume of 2372427 shares. The stock had previously closed at $4.35.

Analysts Set New Price Targets

WVE has been the topic of a number of research reports. Wedbush decreased their price target on shares of WAVE Life Sciences from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. HC Wainwright restated a "buy" rating on shares of WAVE Life Sciences in a report on Monday, August 3rd. Zacks Research downgraded WAVE Life Sciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. B. Riley Financial lowered their target price on WAVE Life Sciences from $31.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Finally, UBS Group set a $13.00 price target on WAVE Life Sciences in a report on Monday, August 3rd. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.31.

WAVE Life Sciences Trading Down 2.1%

The firm has a market cap of $839.43 million, a price-to-earnings ratio of -3.91 and a beta of -1.30. The firm's 50 day simple moving average is $5.30 and its two-hundred day simple moving average is $6.81.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its 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 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. As a group, equities research analysts anticipate that WAVE Life Sciences Ltd. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WAVE Life Sciences news, Director Adrian Rawcliffe sold 12,700 shares of the firm's stock in a transaction on 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 SEC, which is accessible through the SEC website. Also, Director Heidi Wagner sold 7,000 shares of WAVE Life Sciences 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 completion of the transaction, the director directly owned 44,930 shares of the company's stock, valued at $270,029.30. This 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 23,564 shares of company stock worth $132,476 in the last three months. 24.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WAVE Life Sciences

A number of large investors have recently bought and sold shares of the company. Readystate Asset Management LP bought a new stake in shares of WAVE Life Sciences during the 2nd quarter worth approximately $27,465,000. Squarepoint Ops LLC increased its stake in WAVE Life Sciences by 68.0% in the second quarter. Squarepoint Ops LLC now owns 2,541,442 shares of the company's stock valued at $14,766,000 after acquiring an additional 1,029,052 shares during the last quarter. Eventide Asset Management LLC acquired a new position in WAVE Life Sciences during the fourth quarter valued at approximately $8,500,000. Elmind Capital LP bought a new stake in WAVE Life Sciences during the fourth quarter worth $7,613,000. Finally, Renaissance Technologies LLC lifted its stake in WAVE Life Sciences by 152.6% during the first quarter. Renaissance Technologies LLC now owns 597,220 shares of the company's stock worth $4,330,000 after purchasing an additional 360,800 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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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