WAVE Life Sciences (NASDAQ:WVE) Shares Cross Below 50-Day Moving Average – Should You Sell?

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $10.60 and traded as low as $7.24. WAVE Life Sciences shares last traded at $7.31, with a volume of 2,563,425 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WVE shares. Bank of America decreased their target price on WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 27th. Wall Street Zen cut shares of WAVE Life Sciences from a “sell” rating to a “strong sell” rating in a report on Sunday, April 12th. Truist Financial raised shares of WAVE Life Sciences to a “strong-buy” rating in a research report on Wednesday, March 25th. Wedbush upped their price objective on shares of WAVE Life Sciences from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, Mizuho raised their target price on shares of WAVE Life Sciences from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $30.63.

WAVE Life Sciences Price Performance

The stock has a 50 day simple moving average of $10.60 and a 200-day simple moving average of $11.23. The firm has a market cap of $1.38 billion, a PE ratio of -5.99 and a beta of -1.32.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, February 26th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). The business had revenue of $17.25 million for the quarter, compared to analysts’ expectations of $15.68 million. WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 85.69%. As a group, equities analysts predict that WAVE Life Sciences Ltd. will post -1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Chandra Vargeese sold 3,228 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $13.45, for a total transaction of $43,416.60. Following the sale, the insider directly owned 408,246 shares of the company’s stock, valued at $5,490,908.70. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kyle Moran sold 3,588 shares of WAVE Life Sciences stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $48,258.60. Following the completion of the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at $1,807,478.25. The trade was a 2.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 52,373 shares of company stock valued at $757,527. 23.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in WAVE Life Sciences by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after purchasing an additional 4,957 shares during the period. Goldman Sachs Group Inc. grew its position in WAVE Life Sciences by 3.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock worth $4,506,000 after purchasing an additional 20,624 shares during the period. Rhumbline Advisers raised its stake in WAVE Life Sciences by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock valued at $1,057,000 after buying an additional 29,899 shares during the last quarter. Prudential Financial Inc. purchased a new stake in WAVE Life Sciences during the 2nd quarter valued at $80,000. Finally, Norges Bank bought a new position in shares of WAVE Life Sciences during the 2nd quarter valued at $650,000. 89.73% of the stock is owned by hedge funds and other 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.