WAVE Life Sciences (NASDAQ:WVE) Sets New 1-Year Low – Here’s Why

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) hit a new 52-week low during trading on Wednesday . The company traded as low as $5.01 and last traded at $5.05, with a volume of 6892596 shares traded. The stock had previously closed at $6.07.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WVE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Friday, July 17th. New Street Research set a $13.00 price target on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Citigroup reduced their price objective on shares of WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, July 31st. 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 report on Friday, July 31st. Finally, Wall Street Zen downgraded WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, WAVE Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $22.53.

WAVE Life Sciences Stock Performance

The business’s 50-day moving average price is $5.88 and its 200 day moving average price is $8.42. The company has a market cap of $1.02 billion, a P/E ratio of -4.77 and a beta of -1.26.

WAVE Life Sciences (NASDAQ:WVE) last issued 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 net margin of 309.73% and a negative return on equity of 50.36%. The firm had revenue of $2.27 million during the quarter, compared to the consensus estimate of $7.45 million. Equities research analysts forecast that WAVE Life Sciences Ltd. will post -1.12 earnings per share for the current year.

Insider Activity at WAVE Life Sciences

In related news, Director Adrian Rawcliffe sold 12,700 shares of the business’s stock in a transaction that occurred 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 available through this hyperlink. Also, Director Heidi L. Wagner sold 7,000 shares of the 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 sale, the director owned 44,930 shares in the company, valued at approximately $270,029.30. This trade represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,564 shares of company stock worth $132,476 in the last 90 days. Corporate insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On WAVE Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its stake in shares of WAVE Life Sciences by 25.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 81,900 shares of the company’s stock worth $476,000 after buying an additional 16,400 shares during the last quarter. Bank of America Corp DE grew its stake in WAVE Life Sciences by 29.5% in the 1st quarter. Bank of America Corp DE now owns 236,760 shares of the company’s stock valued at $1,717,000 after buying an additional 53,905 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in WAVE Life Sciences in the 1st quarter valued at about $326,000. California State Teachers Retirement System raised its holdings in WAVE Life Sciences by 34.8% in the 1st quarter. California State Teachers Retirement System now owns 145,206 shares of the company’s stock valued at $1,053,000 after acquiring an additional 37,526 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in WAVE Life Sciences by 31.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 240,983 shares of the company’s stock valued at $1,747,000 after acquiring an additional 58,255 shares during the period. 89.73% of the stock is currently 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.