WAVE Life Sciences (NASDAQ:WVE) Stock Price Down 6.8% - Should You Sell?

Key Points

• WAVE Life Sciences shares fell 6.8% to about $5.66, with trading volume roughly 71% below average. The stock remains below its 50-day and 200-day moving averages.
• Analysts remain broadly bullish despite recent price-target cuts: the stock has a “Moderate Buy” consensus rating and an average target of $22.53, compared with its current price near $5.66.
• The company reported weaker-than-expected quarterly results, including a $0.34 per-share loss versus a projected $0.30 loss and revenue of $2.27 million versus $7.45 million expected. WAVE remains unprofitable, with a negative net margin of 309.73%.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report) shares fell 6.8% during trading on Tuesday . The stock traded as low as $5.71 and last traded at $5.6550. Approximately 1,114,194 shares traded hands during trading, a decline of 71% from the average session volume of 3,835,430 shares. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WVE. Canaccord Genuity Group dropped their price target on WAVE Life Sciences from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Zacks Research upgraded shares of WAVE Life Sciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Citigroup cut their target price on shares of WAVE Life Sciences from $24.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. B. Riley Financial reduced their price target on shares of WAVE Life Sciences from $31.00 to $22.00 and set a "buy" rating for the company in a report on Friday, July 31st. Finally, New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.53.

WAVE Life Sciences Stock Performance

The business's fifty day moving average price is $5.93 and its two-hundred day moving average price is $8.61. The firm has a market capitalization of $1.09 billion, a P/E ratio of -5.11 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.04). The firm had revenue of $2.27 million for the quarter, compared to analysts' expectations of $7.45 million. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. Sell-side analysts predict that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.

Institutional Trading of WAVE Life Sciences

A number of institutional investors have recently made changes to their positions in the business. Deutsche Bank AG increased its position in WAVE Life Sciences by 1.5% during the 4th quarter. Deutsche Bank AG now owns 95,706 shares of the company's stock valued at $1,627,000 after buying an additional 1,441 shares in the last quarter. AlphaCentric Advisors LLC boosted its holdings in WAVE Life Sciences by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company's stock worth $212,000 after acquiring an additional 1,585 shares in the last quarter. First Trust Advisors LP grew its stake in shares of WAVE Life Sciences by 15.7% during the first quarter. First Trust Advisors LP now owns 13,518 shares of the company's stock worth $98,000 after acquiring an additional 1,830 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of WAVE Life Sciences by 645.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company's stock valued at $38,000 after acquiring an additional 1,942 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of WAVE Life Sciences by 32.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company's stock valued at $138,000 after acquiring an additional 1,972 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company's stock.

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.

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