WAVE Life Sciences (NASDAQ:WVE) Hits New 52-Week Low – Should You Sell?

WAVE Life Sciences Ltd. (NASDAQ:WVE)’s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $3.65 and last traded at $3.6150, with a volume of 155215 shares. The stock had previously closed at $3.78.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WVE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. Citigroup cut their price objective on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, July 31st. B. Riley Financial decreased their target price on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. initiated coverage on WAVE Life Sciences in a report on Wednesday, September 23rd. They set a “neutral” rating on the stock. Finally, Wedbush dropped their price target on shares of WAVE Life Sciences from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.31.

WAVE Life Sciences Price Performance

The company has a market cap of $724.16 million, a P/E ratio of -3.36 and a beta of -1.30. The company has a fifty day simple moving average of $5.15 and a 200-day simple moving average of $6.55.

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 the consensus estimate of ($0.30) by ($0.04). The company had revenue of $2.27 million for the quarter, compared to the consensus estimate of $7.45 million. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. On average, analysts anticipate that WAVE Life Sciences Ltd. will post -1.12 EPS for the current year.

Insider Buying and Selling at WAVE Life Sciences

In related news, Director Heidi L. Wagner sold 7,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total value of $42,070.00. Following the completion of the transaction, the director owned 44,930 shares in the company, valued at $270,029.30. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Adrian Rawcliffe sold 12,700 shares of WAVE Life Sciences stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total value of $67,183.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 23,564 shares of company stock valued at $132,476. 24.30% of the stock is currently owned by company insiders.

Institutional Trading of WAVE Life Sciences

A number of hedge funds have recently bought and sold shares of WVE. AlphaCentric Advisors LLC increased its position in WAVE Life Sciences by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock worth $212,000 after purchasing an additional 1,585 shares during the last quarter. First Trust Advisors LP raised its stake in shares of WAVE Life Sciences by 15.7% during the 1st quarter. First Trust Advisors LP now owns 13,518 shares of the company’s stock worth $98,000 after purchasing an additional 1,830 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of WAVE Life Sciences during the 4th quarter valued at about $82,000. Arizona State Retirement System lifted its holdings in shares of WAVE Life Sciences by 17.1% during the 2nd quarter. Arizona State Retirement System now owns 35,826 shares of the company’s stock valued at $208,000 after buying an additional 5,228 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of WAVE Life Sciences by 23.0% in the 1st quarter. Quantinno Capital Management LP now owns 47,885 shares of the company’s stock valued at $347,000 after buying an additional 8,960 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. (NASDAQ: WVE) is a biotechnology company focused on developing medicines that target RNA, the biological molecule that helps translate genetic information into proteins. The company uses its oligonucleotide chemistry and delivery technologies to pursue treatments for genetically defined diseases, including conditions affecting the liver, muscles and nervous system.

WAVE’s research programs include RNA editing medicines designed to correct or modify disease-related genetic messages without permanently altering DNA.