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

WAVE Life Sciences Ltd. (NASDAQ:WVE) crossed below its fifty day moving average during trading on Friday . The stock has a fifty 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.

Analyst Ratings Changes

WVE has been the topic of a number of recent research reports. Oppenheimer boosted their price objective on shares of WAVE Life Sciences from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Canaccord Genuity Group lifted their target price on WAVE Life Sciences from $19.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Wednesday, January 21st. UBS Group set a $32.00 price objective on shares of WAVE Life Sciences in a research report on Tuesday, December 16th. Finally, Cantor Fitzgerald lifted their price objective on shares of WAVE Life Sciences from $12.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.67.

WAVE Life Sciences Stock Down 0.5%

The stock has a market cap of $2.16 billion, a P/E ratio of -17.25 and a beta of -1.82. The business’s 50 day simple moving average is $14.03 and its two-hundred day simple moving average is $10.07.

WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results 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 business had revenue of $7.61 million for the quarter, compared to the consensus estimate of $9.85 million. WAVE Life Sciences had a negative net margin of 111.64% and a negative return on equity of 75.61%. As a group, research analysts forecast that WAVE Life Sciences Ltd. will post -1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WAVE Life Sciences news, major shareholder Plc Gsk acquired 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, for a total transaction of $27,930,000.00. Following the completion of the acquisition, the insider owned 18,245,691 shares in the company, valued at approximately $346,668,129. This represents a 8.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Corrigan sold 16,115 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $13.48, for a total value of $217,230.20. Following the completion of the sale, the director directly owned 28,815 shares of the company’s stock, valued at approximately $388,426.20. This trade represents a 35.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 912,117 shares of company stock valued at $13,464,044. 23.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WAVE Life Sciences

Several large investors have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D bought a new stake in shares of WAVE Life Sciences in the fourth quarter valued at $646,000. Pictet Asset Management Holding SA boosted its stake in WAVE Life Sciences by 5,024.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 805,901 shares of the company’s stock valued at $13,830,000 after buying an additional 790,175 shares during the period. Matisse Capital increased its holdings in shares of WAVE Life Sciences by 219.8% in the 4th 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. increased its stake in WAVE Life Sciences by 13.8% in the fourth quarter. Vanguard Group Inc. now owns 3,573,746 shares of the company’s stock valued at $60,754,000 after acquiring an additional 433,910 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in 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 worth $6,995,000 after buying an additional 42,789 shares during 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 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.