WAVE Life Sciences (NASDAQ:WVE) Trading Down 8.3% - What's Next?

Key Points

• WAVE Life Sciences shares fell 8.3% on Friday, trading as low as $5.89 before closing at $5.7890, with volume far below average.
• Analyst sentiment remains mostly positive: the stock has 14 Buy ratings and 1 Sell rating, with a consensus Moderate Buy and an average price target of $26.41.
• The company recently posted a smaller-than-expected loss and much stronger revenue than forecast, but it still has negative profitability and analysts expect a full-year EPS loss of about 1.1.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Get Free Report)'s share price dropped 8.3% during trading on Friday . The company traded as low as $5.89 and last traded at $5.7890. Approximately 506,431 shares changed hands during trading, a decline of 88% from the average session volume of 4,076,644 shares. The stock had previously closed at $6.31.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WVE. HC Wainwright reiterated a "buy" rating on shares of WAVE Life Sciences in a report on Thursday, June 11th. Bank of America decreased their price objective on shares of WAVE Life Sciences from $38.00 to $21.00 and set a "buy" rating for the company in a report on Friday, March 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of WAVE Life Sciences in a research report on Monday, April 20th. Mizuho lifted their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Finally, Citigroup reduced their price target on shares of WAVE Life Sciences from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.41.

WAVE Life Sciences Stock Down 6.3%

The firm has a market cap of $1.14 billion, a P/E ratio of -5.58 and a beta of -1.29. The business has a fifty day simple moving average of $6.29 and a 200-day simple moving average of $10.14.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.21. The firm had revenue of $38.25 million for the quarter, compared to analysts' expectations of $8.45 million. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. On average, sell-side analysts anticipate that WAVE Life Sciences Ltd. will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On WAVE Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. GSK plc purchased a new position in shares of WAVE Life Sciences during the fourth quarter valued at approximately $310,177,000. Adage Capital Partners GP L.L.C. boosted its position in shares of WAVE Life Sciences by 20.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company's stock worth $97,607,000 after purchasing an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of WAVE Life Sciences by 83.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company's stock worth $125,927,000 after buying an additional 3,362,880 shares during the last quarter. Darwin Global Management Ltd. purchased a new stake in shares of WAVE Life Sciences in the 4th quarter worth approximately $125,168,000. Finally, Federated Hermes Inc. increased its position in WAVE Life Sciences by 26.5% during the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company's stock valued at $80,657,000 after buying an additional 993,827 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company's stock.

WAVE Life Sciences Company Profile

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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