WAVE Life Sciences (NASDAQ:WVE) Stock Crosses Below 50 Day Moving Average – Time to Sell?

WAVE Life Sciences Ltd. (NASDAQ:WVE)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.98 and traded as low as $5.76. WAVE Life Sciences shares last traded at $6.09, with a volume of 3,419,235 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. 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. Citigroup cut their price objective on WAVE Life Sciences from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Truist Financial assumed coverage on WAVE Life Sciences in a report on Wednesday, April 29th. They set a “buy” rating and a $15.00 target price on the stock. Canaccord Genuity Group decreased their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Wedbush raised their target price on WAVE Life Sciences from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

WAVE Life Sciences Stock Performance

The stock has a market capitalization of $1.10 billion, a P/E ratio of -5.41 and a beta of -1.33. The business has a 50-day moving average price of $6.85 and a 200 day moving average price of $11.04.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WVE. CWM LLC lifted its position in WAVE Life Sciences by 6,729.0% in the 4th quarter. CWM LLC now owns 2,117 shares of the company’s stock valued at $36,000 after acquiring an additional 2,086 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of WAVE Life Sciences by 645.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock valued at $38,000 after buying an additional 1,942 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock valued at $72,000 after buying an additional 9,135 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in WAVE Life Sciences by 1,441.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after buying an additional 9,284 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in WAVE Life Sciences by 44.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after buying an additional 3,609 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

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.