Wave Life Sciences, Inc. (WVE) Stock Price & Analysis
Wave Life Sciences, Inc. (WVE) is trading at USD 3.2, down 4.63% today, as of October 23, 2026 at 14:20 UTC (US market open; quotes may be delayed), according to Nexqual market data.
WVE last closed at USD 3.2; today's session has ranged USD 3.19–3.34 on volume of 288,037 shares. Market capitalization is —, with a 52-week range of USD 3.04–21.73 (NGM). Source: Nexqual, retrieved October 23, 2026 at 14:21 UTC.
Also available as compact Markdown for AI agents: nexqual.com/WVE.md
Key facts (WVE)
- 1 of 80 tracked superinvestors hold WVE (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $135K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y -54.8% vs S&P 500 +14.4%; 5Y -30.5% vs S&P 500 +77.0%.
- Next earnings: 2026-10-27, EPS estimate USD -0.32, revenue estimate $4.4M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (WVE)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $41.0M | $3.6M | $113M | $108M | $42.7M | — |
| Operating income | -$127M | -$163M | -$68.0M | -$110M | -$215M | -$218M |
| Net income | -$122M | -$162M | -$57.5M | -$97.0M | -$204M | -$202M |
| EPS (diluted) | -$2.36 | -$2.05 | -$0.54 | -$0.70 | -$1.21 | — |
| Free cash flow | -$89.6M | -$129M | -$20.5M | -$152M | -$188M | -$193M |
| Operating margin | -310.1% | -4459.3% | -60.0% | -101.9% | -504.1% | — |
| Net margin | -298.4% | -4434.7% | -50.8% | -89.6% | -478.3% | — |
| Revenue growth | +104.0% | -91.1% | +3005.1% | -4.4% | -60.5% | — |
| Cash + short-term investments | $151M | — | — | $302M | $602M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (WVE)
Superinvestors (SEC 13F-HR, Q2 2026) (WVE)
1 of 80 tracked investors hold WVE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.54% | $59.7M | Added +1.1% |
Insider sales (SEC Form 4, open-market, last ~7 months) (WVE)
4 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-12 | Rawcliffe Adrian | Director | 12,700 | $67K | 100% | Yes (adopted March 6, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-11 | Wagner Heidi L | Director | 7,000 | $42K | 13.5% | Yes (adopted March 6, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-11 | Takanashi Ken | Director | 3,864 | $23K | 0% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-11 | Tan Aik Na | Director | 432 | $3K | 1.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (WVE)
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | William Blair | Initiated | Outperform | |
| 2026-10-15 | UBS | Initiated | Buy | $11 |
| 2026-10-01 | Ladenburg Thalmann | Initiated | Buy | $10 |
| 2026-09-23 | JP Morgan | Downgrade | Overweight → Neutral | |
| 2026-08-04 | Mizuho | Target lowered | Outperform | $27 → $23 |
| 2026-07-31 | Citigroup | Target lowered | Buy | $24 → $19 |
| 2026-07-31 | B. Riley Securities | Target lowered | Buy | $31 → $22 |
| 2026-07-31 | Wedbush | Target lowered | Outperform | $15 → $12 |
Total return (dividends reinvested) (WVE)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -54.8% | -30.5% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | -54.8% | -7.0% |
| Volatility (annualized) | 130.4% | 96.8% |
| Max drawdown | -85.5% (Dec 2025→Oct 2026) | -82.4% (Dec 2025→Oct 2026) |
WVE suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | TAKEDA PHARMACEUTICAL CO LTD (TAK) | “We recognize collaboration revenue under the GSK Collaboration Agreement, which became effective in January 2023, and the Takeda Collaboration Agreement, which became effective in April 2018 and expired in the fourth quarter of 2024, (both of which are defined in Note 5 in the notes to the consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K).” |
| Partner | BIO-TECHNE Corp (TECH) | “In November 2019, we entered into an agreement with Asuragen (which was acquired by Bio-Techne Corporation in April 2021), a molecular diagnostics company, for the development and potential commercialization of companion diagnostics for our investigational allele-selective therapeutic programs targeting HD.” |
Quoted from the company's 10-K filed Feb 26, 2026.
Companies that name WVE in their SEC reports
| Relationship to WVE | Company | Filing | Sentence |
|---|---|---|---|
| partner | TAKEDA PHARMACEUTICAL CO LTD (TAK) | 20-F Jun 17, 2026 | “In February 2018, Takeda entered into an agreement with Wave to discover, develop and commercialize nucleic acid therapies for disorders of the central nervous system (CNS).” |
| partner | ALNYLAM PHARMACEUTICALS, INC. (ALNY) | 10-K Feb 12, 2026 | “Companies working on chemically synthesized siRNAs include but are not limited to ADARx Pharmaceuticals, Inc., or ADARx, Amgen Inc., Argo Biopharmaceutical Co., Ltd., or Argo, Aro Biotherapeutics, Arrowhead Pharmaceuticals, Inc., or Arrowhead, AstraZeneca plc, or AstraZeneca, Dyne Therapeutics, Inc., Eli Lilly and Company, GlaxoSmithKline plc, Novartis, Novo Nordisk A/S, or Novo Nordisk, SanegeneBio, Sarepta Thera…” |
WVE company outlook (results filed Jul 30, 2026)
- “We expect the Phase 2a portion of the INLIGHT trial, in individuals with higher BMI and higher body fat, to demonstrate WVE-007's broad potential to deliver even greater fat loss and improvements in body composition, as well as benefits across additional cardiometabolic biomarkers such as liver fat.”
- “We expect to provide further updates on our pipeline and platform innovations at our annual investor day this fall." Recent Business Highlights and Expected Milestones Obesity WVE-007 is an investigational GalNAc-siRNA (SpiNA) designed to induce fat loss without muscle loss.”
- “Additional data from the INLIGHT trial, including data from the 600 mg Phase 1 SAD cohort, are expected in the second half of 2026. Phase 2a INLIGHT trial: Dosing is underway in the Phase 2a multidose portion of the INLIGHT trial of WVE-007 in individuals with higher BMI (35-50 kg/m 2 ), with and without type 2 diabetes.”
- “These data will inform further development of WVE-007 in obesity, as well as in MASH, type 2 diabetes, and other cardiometabolic diseases. Combination with incretin and post-incretin maintenance: Wave expects to initiate Phase 2 trials of WVE-007 in the combination and maintenance settings in the second half of 2026.”
Quoted word-for-word from the SEC 8-K results press release.
WVE analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.32 | $-0.31 | +5.5% | $4.4M | 17 |
| Next quarter (ends Dec 2026) | $-0.32 | $-0.07 | +383.4% | $5.8M | 16 |
| Current fiscal year (ends Dec 2026) | $-1.10 | $-0.84 | +31.9% | $50.6M | 17 |
| Next fiscal year (ends Dec 2027) | $-1.17 | $-1.08 | +7.6% | $35.2M | 18 |
WVE options: expected move
Options price a move of about ±49.4% (±$1.68) by Nov 20, 2026, which includes earnings on Oct 27, 2026. Over the last 8 reports the stock moved ±3.8% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 229.4% | ±49.4% |
| Dec 18, 2026 | 56 | 133.2% | ±23.6% |
| Jan 15, 2027 | 84 | 193.8% | ±74.0% |
| Apr 16, 2027 | 175 | 117.2% | ±71.5% |
| Jun 17, 2027 | 237 | 101.8% | ±78.9% |
30-day implied volatility 130.1% vs 53.6% realized over the last 30 trading days. Put/call ratio (volume) 0.01. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 14:21 UTC)
| Price | USD 3.2 |
|---|---|
| Change | ▼ 4.63% (down) |
| Previous Close | USD 3.2 |
| Open | USD 3.2 |
| Day Range | USD 3.19 – 3.34 |
| 52-Week Range | USD 3.04 – 21.73 |
| Volume | 288,037 shares |
| Market Cap | — |
| Exchange | NGM |
Technical Analysis (WVE)
Nexqual's technical model rates WVE "SELL" based on 2 bullish and 5 bearish signals across 128 daily candles, as of October 23, 2026 at 14:21 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 29.7 (oversold) |
| vs SMA50 | Below (USD 4.24) |
| MACD | -0.29 (negative) |
Earnings (WVE)
| Next Earnings Date | 2026-10-27 |
|---|---|
| EPS Estimate | USD -0.32 |
| Revenue Estimate | $4.39M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.34 vs est -0.3 ▼ miss |
| 2026-03-31 | USD -0.13 vs est -0.31 ▲ beat |
| 2025-12-31 | USD -0.3 vs est -0.26 ▼ miss |
| 2025-09-30 | USD -0.32 vs est -0.3 ▼ miss |
Source: Nexqual, October 23, 2026 at 14:21 UTC.
Financials & Fundamentals (WVE)
| Total Revenue | $65.37M |
|---|---|
| Revenue Growth (latest quarter, YoY) | -73.90% |
| Gross Margin | -202.00% |
| Operating Margin | -3248.33% |
| Profit Margin | +0.00% |
| ROE | -67.42% |
| Debt / Equity | 0.1 |
| Current Ratio | 9.99 |
| Total Cash | $490.60M |
| Total Debt | $43.59M |
Source: Nexqual, October 23, 2026 at 14:21 UTC.
Ownership (WVE)
| Insider Ownership | +15.58% |
|---|---|
| Institutional Ownership | +85.62% |
| Shares Outstanding | 197.05M |
| Float | 94.53M |
| Short % of Float | +11.62% |
Source: Nexqual, October 23, 2026 at 14:21 UTC.
From Wave Life Sciences, Inc.'s Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- WVE-003 is our stereopure allele-selective oligonucleotide that incorporates our proprietary PN chemistry and is designed to selectively target rs362273, a variant of the single nucleotide polymorphism ("SNP"), "mHTT SNP3", associated with the disease-causing mHTT mRNA transcript within the HTT gene (Iwamoto et al., MTNA).
- Nature Biotechnol. 2017;35(9):845-851), we described our studies using our proprietary chemistry to design and synthesize stereopure oligonucleotides and oligonucleotide mixtures based on mipomersen.
- The discovery collaboration has an initial four-year research term and combines our proprietary discovery and drug development platform, PRISMTM, with GSK's novel genetic insights and its global development and commercial capabilities.
- We have built a hybrid internal / external manufacturing model that enables us to produce stereopure oligonucleotides at scales from one micromole to potential commercial scale.
Partnerships
- With respect to the $50.0 million equity investment referred to above, simultaneously with our entry into the GSK Collaboration Agreement, we entered into a share purchase agreement with Glaxo Group Limited ("GGL"), an affiliate of GSK, pursuant to which we agreed to sell to GGL 10,683,761 of our ordinary shares at a purchase price of $4.68 per share, for an aggregate purchase price of approximately $50.0 million (the "GSK Equity Investment").
- Treatments are available to help deal with intestinal bleeding, fluid in the abdomen, nutritional issues, and other complications from scarring of the liver, but ultimately many patients will progress towards requiring a liver transplant.
Legal & Regulatory Risks (Item 1A, quoted)
- We may be unable to obtain regulatory approval in the United States or foreign jurisdictions and, as a result, be unable to commercialize our product candidates and our ability to generate revenue will be materially impaired.
- Any drugs we develop may become subject to unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives, thereby harming our business.
- Changes in laws and regulations affecting the healthcare industry could adversely affect our business.
- We do not currently have any sales and marketing or distribution capabilities. Depending on the collaborations that we enter into, we may expect our collaborators to provide assistance with development, regulatory affairs, marketing, sales and distribution, among other areas. Our future revenues may depend heavily on the success of the efforts of these third parties.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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|---|---|---|---|
| LGND | Ligand Pharmaceuticals Incorpor | USD 305.01 | ▼ 0.91% |
| RYTM | Rhythm Pharmaceuticals, Inc. | USD 88.98 | ▼ 2.11% |
| IOVA | Iovance Biotherapeutics, Inc. | USD 13.59 | ▼ 3.93% |
| PRAX | Praxis Precision Medicines, Inc | USD 252.2 | ▼ 2.6% |
| IONS | Ionis Pharmaceuticals, Inc. | USD 42.7 | ▼ 2.76% |
| ABVX | Abivax SA | USD 87.28 | ▼ 3.27% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 14:21 UTC. This page is informational and not investment advice.
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