WAVE Life Sciences (NASDAQ:WVE) Shares Pass Below 50 Day Moving Average – Should You Sell?
by Teresa Graham · The Cerbat GemWAVE Life Sciences Ltd. (NASDAQ:WVE – Get Free Report) passed below its 50 day moving average during trading on Friday . The stock has a 50 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 trading hands.
Analysts Set New Price Targets
A number of research firms have recently issued reports on WVE. Bank of America reduced their price target 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. Truist Financial assumed coverage on shares of WAVE Life Sciences in a research report on Wednesday, April 29th. They issued a “buy” rating and a $15.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Mizuho lifted their price objective on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $26.41.
Read Our Latest Research Report on WVE
WAVE Life Sciences Trading Up 1.0%
The company has a market capitalization of $1.13 billion, a P/E ratio of -5.54 and a beta of -1.33. The business’s 50-day simple moving average is $6.76 and its 200 day simple moving average is $11.00.
WAVE Life Sciences (NASDAQ:WVE – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) EPS 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 company had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. As a group, sell-side analysts predict that WAVE Life Sciences Ltd. will post -1.16 EPS for the current fiscal year.
Institutional Trading of WAVE Life Sciences
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GSK plc bought a new stake in shares of WAVE Life Sciences during the 4th quarter worth about $310,177,000. Adage Capital Partners GP L.L.C. raised its position in shares of WAVE Life Sciences by 20.0% during 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 buying an additional 2,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of WAVE Life Sciences by 83.1% during 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 in the last quarter. Darwin Global Management Ltd. bought a new stake in shares of WAVE Life Sciences during the 4th quarter worth about $125,168,000. Finally, Federated Hermes Inc. raised its position in shares of WAVE Life Sciences by 26.5% during the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock worth $80,657,000 after buying an additional 993,827 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.
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.