WAVE Life Sciences (NASDAQ:WVE) Shares Pass Below 50 Day Moving Average – What’s Next?

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America lowered their target price on shares of WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, March 27th. New Street Research set a $13.00 target price on shares of WAVE Life Sciences in a report on Thursday. Mizuho upped their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. HC Wainwright reaffirmed a “buy” rating on shares of WAVE Life Sciences in a report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a report on Monday, April 20th. Fourteen research 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, WAVE Life Sciences has an average rating of “Moderate Buy” and an average price target of $26.41.

WAVE Life Sciences Stock Performance

The company’s 50-day moving average is $6.76 and its 200-day moving average is $11.00. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -5.54 and a beta of -1.33.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.21. The business had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. WAVE Life Sciences had a negative net margin of 255.70% and a negative return on equity of 56.76%. On average, analysts predict that WAVE Life Sciences Ltd. will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG lifted its position in WAVE Life Sciences by 1.5% during the 4th quarter. Deutsche Bank AG now owns 95,706 shares of the company’s stock worth $1,627,000 after buying an additional 1,441 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in WAVE Life Sciences by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 29,175 shares of the company’s stock worth $212,000 after buying an additional 1,585 shares in the last quarter. First Trust Advisors LP lifted its position in 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 buying an additional 1,830 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in WAVE Life Sciences by 645.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,243 shares of the company’s stock worth $38,000 after purchasing an additional 1,942 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in WAVE Life Sciences by 32.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,124 shares of the company’s stock worth $138,000 after purchasing an additional 1,972 shares during the last quarter. Institutional investors and hedge funds 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.