WAVE Life Sciences (NASDAQ:WVE) Trading Down 6.8% – Should You Sell?

WAVE Life Sciences Ltd. (NASDAQ:WVE)’s share price traded down 6.8% during mid-day trading on Tuesday . The company traded as low as $5.71 and last traded at $5.6550. Approximately 1,114,194 shares were traded during trading, a decline of 71% from the average daily volume of 3,835,430 shares. The stock had previously closed at $6.07.

Analyst Ratings Changes

A number of research analysts have issued reports on WVE shares. New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a report on Thursday, June 11th. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a report on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. Citigroup lowered their price target on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, B. Riley Financial dropped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.53.

WAVE Life Sciences Stock Performance

The firm’s 50 day simple moving average is $5.93 and its 200 day simple moving average is $8.61. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.11 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.34) earnings per share 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 during the quarter, compared to analyst estimates of $7.45 million. As a group, sell-side analysts forecast that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.

Hedge Funds Weigh In On WAVE Life Sciences

A number of institutional investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after buying an additional 2,086 shares during the period. Smartleaf Asset Management LLC raised its position 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 valued at $38,000 after acquiring an additional 1,942 shares in the last quarter. 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. Tower Research Capital LLC TRC lifted its holdings in WAVE Life Sciences by 44.8% in the second quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock valued at $76,000 after acquiring an additional 3,609 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in WAVE Life Sciences in the 2nd quarter worth approximately $80,000. 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.