WAVE Life Sciences (NASDAQ:WVE) Shares Pass Below 50 Day Moving Average – What’s Next?

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.76 and traded as low as $5.77. WAVE Life Sciences shares last traded at $5.87, with a volume of 2,244,875 shares.

Wall Street Analyst Weigh In

WVE has been the topic of a number of research reports. Mizuho boosted their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Bank of America dropped their target price on shares of WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Wells Fargo & Company lifted their price target on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Canaccord Genuity Group decreased their price target on shares of WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, HC Wainwright reiterated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

WAVE Life Sciences Price Performance

The stock’s 50 day simple moving average is $6.76 and its two-hundred day simple moving average is $11.00. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -5.54 and a beta of -1.33.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. The firm had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. As a group, analysts predict that WAVE Life Sciences Ltd. will post -1.16 earnings per share for the current year.

Institutional Investors Weigh In On WAVE Life Sciences

A number of institutional investors have recently bought and sold shares of WVE. Pictet Asset Management Holding SA grew its holdings in shares of WAVE Life Sciences by 5,024.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock worth $13,830,000 after purchasing an additional 790,175 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of WAVE Life Sciences in the 3rd quarter worth about $375,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of WAVE Life Sciences in the 4th quarter worth about $1,530,000. F m Investments LLC grew its holdings in shares of WAVE Life Sciences by 24.5% in the 4th quarter. F m Investments LLC now owns 395,894 shares of the company’s stock worth $6,730,000 after purchasing an additional 77,807 shares during the last quarter. Finally, Knott David M Jr grew its holdings in shares of WAVE Life Sciences by 125.0% in the 3rd quarter. Knott David M Jr now owns 90,000 shares of the company’s stock worth $659,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds 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.