WAVE Life Sciences (NASDAQ:WVE) Share Price Passes Below Fifty Day Moving Average – What’s Next?

WAVE Life Sciences Ltd. (NASDAQ:WVE) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.03 and traded as low as $12.75. WAVE Life Sciences shares last traded at $12.94, with a volume of 2,326,426 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WVE. HC Wainwright raised their price objective on shares of WAVE Life Sciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Truist Financial lifted their target price on shares of WAVE Life Sciences from $36.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Wells Fargo & Company boosted their price target on shares of WAVE Life Sciences from $16.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. B. Riley increased their price objective on WAVE Life Sciences from $19.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Royal Bank Of Canada upgraded WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $9.00 to $27.00 in a research note on Monday, December 8th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.67.

WAVE Life Sciences Stock Down 0.5%

The business has a 50-day simple moving average of $14.03 and a 200-day simple moving average of $10.08. The stock has a market cap of $2.16 billion, a P/E ratio of -17.25 and a beta of -1.82.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $7.61 million for the quarter, compared to the consensus estimate of $9.85 million. WAVE Life Sciences had a negative return on equity of 75.61% and a negative net margin of 111.64%. On average, analysts predict that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at WAVE Life Sciences

In other WAVE Life Sciences news, major shareholder Plc Gsk bought 1,470,000 shares of the stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $19.00 per share, with a total value of $27,930,000.00. Following the acquisition, the insider directly owned 18,245,691 shares of the company’s stock, valued at $346,668,129. This represents a 8.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Francis sold 441,031 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $14.57, for a total transaction of $6,425,821.67. Following the transaction, the insider directly owned 25,000 shares in the company, valued at $364,250. This trade represents a 94.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 912,117 shares of company stock worth $13,464,044 in the last ninety days. 23.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WVE. State of New Jersey Common Pension Fund D acquired a new stake in shares of WAVE Life Sciences during the fourth quarter worth approximately $646,000. Pictet Asset Management Holding SA lifted its stake 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 valued at $13,830,000 after purchasing an additional 790,175 shares during the period. Matisse Capital boosted its holdings in WAVE Life Sciences by 219.8% during the fourth quarter. Matisse Capital now owns 42,193 shares of the company’s stock worth $717,000 after buying an additional 29,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in WAVE Life Sciences by 13.8% during the fourth quarter. Vanguard Group Inc. now owns 3,573,746 shares of the company’s stock valued at $60,754,000 after purchasing an additional 433,910 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of WAVE Life Sciences by 11.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 411,494 shares of the company’s stock valued at $6,995,000 after buying an additional 42,789 shares in the last quarter. 89.73% of the stock is 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.