WVE
Wave Life Sciences, Inc.
NasdaqGMUSDEQUITY
Healthcare
DELAYED
Sell
-32/100
Last price
3.55
▼ 0.20 (5.33%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
3.80
Prev close
3.75
Day high
3.82
Day low
3.49
Volume
3.45M
Market cap
$693.61M
P/E (TTM)
—
52W range
3.49 – 21.73
Day trading desk
Gap from prior close
+1.33%
Prior close 3.75
VWAP
3.55
-0.08% from price
Relative volume
2.12×
Unusually busy
Session range
10.08%
3.48 – 3.84
Position in range
18%
Near session low
ATR (14D)
0.24
6.88% of price
Prior day high
3.88
PDH
Prior day low
3.71
PDL
Bid / ask spread
—
Quote not published
Session volume
6.54M
Avg 3.09M
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
-3.30%
-5.2%
1M
-27.57%
-28.7%
3M
-43.59%
-48.1%
6M
-50.42%
-68.6%
YTD
-79.29%
-93.5%
1Y
-50.77%
-67.2%
3Y
-38.78%
-121.0%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
11 more panels on WVE open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+31.97M
Net buying
Buy transactions
78
34.82M shares
Sell transactions
78
2.85M shares
Net transactions
+156
Buys less sells
Sell : buy shares
0.1 : 1
Mixed
Insider-held shares
30.55M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 12, 26 | RAWCLIFFE ADRIAN Director |
SELL | 12.70K | $67.18K | Direct |
| Aug 11, 26 | WAGNER HEIDI L Director |
CONVERSION | 7.00K | $41.79K | Direct |
| Aug 11, 26 | WAGNER HEIDI L Director |
SELL | 7.00K | $42.07K | Direct |
| Aug 11, 26 | TAKANASHI KEN Director |
SELL | 3.86K | $23.22K | Direct |
| Aug 11, 26 | TAN AIK NA Director |
SELL | 432 | $2.60K | Direct |
| Mar 30, 26 | RA CAPITAL MANAGEMENT, L.P. Beneficial Owner of more than 10% of a Class of Security |
BUY | 8.77M | $54.62M | Indirect |
| Mar 23, 26 | TAKANASHI KEN Director |
— | 3.90M | — | Indirect |
| Feb 26, 26 | FRANCIS CHRISTOPHER JOHN Officer |
CONVERSION | 33.19K | $141.92K | Direct |
| Feb 26, 26 | FRANCIS CHRISTOPHER JOHN Officer |
SELL | 33.19K | $499.59K | Direct |
| Feb 9, 26 | MORAN KYLE Chief Financial Officer |
SELL | 3.59K | $48.26K | Direct |
| Feb 9, 26 | BOLNO PAUL B. M.D. Chief Executive Officer |
SELL | 10.48K | $140.96K | Direct |
| Feb 9, 26 | VARGEESE CHANDRA Officer |
SELL | 3.23K | $43.42K | Direct |
| Feb 9, 26 | FRANCIS CHRISTOPHER JOHN Officer |
SELL | 1.88K | $25.33K | Direct |
| Feb 5, 26 | FRANCIS CHRISTOPHER JOHN Officer |
— | 38.75K | — | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BOLNO PAUL B. M.D. |
Chief Executive Officer | 275.52K | Sale |
CORRIGAN MARK |
Director | 28.82K | Sale |
FRANCIS CHRISTOPHER JOHN |
Officer | 61.87K | Conversion of Exercise of derivative security |
GSK PLC |
Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
MORAN KYLE |
Chief Financial Officer | 134.38K | Sale |
RA CAPITAL MANAGEMENT, L.P. |
Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
TAKANASHI KEN |
Director | 9.63M | Sale |
VARGEESE CHANDRA |
Officer | 408.25K | Sale |
VERDINE GREGORY L |
Director | 275.22K | Sale |
WAGNER HEIDI L |
Director | 44.93K | Conversion of Exercise of derivative security |
Fundamentals
Market cap$693.61M
Enterprise value$246.60M
Revenue (TTM)$65.37M
Gross profit$-132.05M
EBITDA$-214.52M
Net income$-202.47M
EPS (TTM)$-1.08
Free cash flow$-128.78M
Total cash$490.60M
Total debt$43.59M
Book value / share$2.35
Shares outstanding197.05M
Float94.57M
Short % of float11.04%
Dividend yield0.00%
Beta (5Y)-1.43
Valuation & profitability ratios
Trailing P/E—
Forward P/E-3.04
PEG ratio—
Price / sales—
Price / book1.50
EV / revenue3.77
EV / EBITDA-1.15
Gross margin-202.00%
Operating margin-3248.33%
Profit margin0.00%
Return on equity-67.42%
Return on assets-33.60%
Debt / equity9.61
Current ratio9.99
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $42.73M | $108.30M | $113.31M | $3.65M | -60.5% |
| Operating revenue | $42.73M | $108.30M | $113.31M | $3.65M | -60.5% |
| Research & development | $182.78M | $159.68M | $130.01M | $115.86M | +14.5% |
| Selling, general & admin | $75.33M | $59.02M | $51.29M | $50.51M | +27.6% |
| Total operating expense | $258.11M | $218.71M | $181.30M | $166.37M | +18.0% |
| Operating income | -$215.38M | -$110.40M | -$68.00M | -$162.72M | -95.1% |
| Pre-tax income | -$204.38M | -$97.01M | -$58.19M | -$161.14M | -110.7% |
| Tax provision | $0 | $0 | -$677.00K | $681.00K | — |
| Net income | -$204.38M | -$97.01M | -$57.51M | -$161.82M | -110.7% |
| Net income to common | -$204.38M | -$97.01M | -$57.51M | -$161.82M | -110.7% |
| Basic EPS | -1.21 | -0.70 | -0.54 | -2.05 | -72.9% |
| Diluted EPS | -1.21 | -0.70 | -0.54 | -2.05 | -72.9% |
| EBIT | -$215.38M | -$110.40M | -$68.00M | -$162.72M | -95.1% |
| EBITDA | -$206.53M | -$101.74M | -$58.79M | -$152.61M | -103.0% |
| Basic shares | 168.65M | 138.28M | 106.10M | 78.86M | +22.0% |
| Diluted shares | 168.65M | 138.28M | 106.10M | 78.86M | +22.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $602.07M | $302.08M | $200.35M | $88.50M | +99.3% |
| Cash & short-term investments | $602.07M | $302.08M | $200.35M | $88.50M | +99.3% |
| Accounts receivable | $1.28M | $1.42M | $21.09M | $0 | -10.3% |
| Total current assets | $614.81M | $320.39M | $235.37M | $98.54M | +91.9% |
| Property, plant & equipment | $19.86M | $28.00M | $35.72M | $44.13M | -29.1% |
| Total assets | $638.50M | $352.21M | $274.95M | $146.39M | +81.3% |
| Total current liabilities | $95.06M | $110.95M | $186.44M | $71.52M | -14.3% |
| Total debt | $17.77M | $25.40M | $32.12M | $37.61M | -30.1% |
| Total liabilities | $120.14M | $142.69M | $235.32M | $191.48M | -15.8% |
| Retained earnings | -$1.33B | -$1.12B | -$1.02B | -$967.34M | -18.2% |
| Shareholder equity | $518.36M | $209.51M | $39.63M | -$45.09M | +147.4% |
| Working capital | $519.75M | $209.44M | $48.93M | $27.02M | +148.2% |
| Net tangible assets | $518.36M | $209.51M | $39.63M | -$45.09M | +147.4% |
| Shares issued | 187.66M | 153.04M | 119.16M | 86.92M | +22.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$204.38M | -$97.01M | -$57.51M | -$161.82M | -110.7% |
| Depreciation & amortisation | $8.85M | $8.66M | $9.21M | $10.11M | +2.2% |
| Stock-based compensation | $24.97M | $13.14M | $9.79M | $17.19M | +90.0% |
| Change in working capital | -$16.94M | -$75.82M | $19.08M | $6.72M | +77.7% |
| Operating cash flow | -$187.49M | -$151.03M | -$19.43M | -$127.78M | -24.1% |
| Capital expenditure | -$718.00K | -$938.00K | -$1.11M | -$1.36M | +23.5% |
| Investing cash flow | -$718.00K | -$938.00K | -$1.11M | -$1.25M | +23.5% |
| Financing cash flow | $488.24M | $253.89M | $132.53M | $67.19M | +92.3% |
| Free cash flow | -$188.21M | -$151.96M | -$20.55M | -$129.14M | -23.9% |
| End cash position | $605.87M | $305.84M | $204.05M | $92.16M | +98.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $2.27M | $38.25M | $17.25M | $7.61M | $8.70M | — | -94.1% |
| Operating revenue | $2.27M | $38.25M | $17.25M | $7.61M | $8.70M | — | -94.1% |
| Research & development | $51.29M | $47.44M | $52.81M | $45.87M | $43.47M | — | +8.1% |
| Selling, general & admin | $24.78M | $22.10M | $20.90M | $18.09M | $17.99M | — | +12.1% |
| Total operating expense | $76.07M | $69.54M | $73.71M | $63.96M | $61.46M | — | +9.4% |
| Operating income | -$73.80M | -$31.30M | -$56.47M | -$56.35M | -$52.76M | — | -135.8% |
| Net interest income | $4.72M | $5.29M | — | $2.18M | $2.37M | $2.88M | -10.8% |
| Pre-tax income | -$69.36M | -$26.09M | -$53.18M | -$53.85M | -$50.47M | — | -165.9% |
| Tax provision | $0 | $0 | $0 | $0 | $0 | — | — |
| Net income | -$69.36M | -$26.09M | -$53.18M | -$53.85M | -$50.47M | — | -165.9% |
| Net income to common | -$69.36M | -$26.09M | -$53.18M | -$53.85M | -$50.47M | — | -165.9% |
| Basic EPS | -0.34 | -0.13 | -0.30 | -0.32 | -0.31 | — | -161.5% |
| Diluted EPS | -0.34 | -0.13 | -0.30 | -0.32 | -0.31 | — | -161.5% |
| EBIT | -$73.80M | -$31.30M | -$56.47M | -$56.35M | -$52.76M | — | -135.8% |
| EBITDA | -$71.43M | -$28.99M | -$54.20M | -$54.12M | -$50.56M | — | -146.4% |
| Basic shares | 204.01M | 200.17M | 180.15M | 167.74M | 163.99M | — | +1.9% |
| Diluted shares | 204.01M | 200.17M | 180.15M | 167.74M | 163.99M | — | +1.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $368.01M | $544.59M | $602.07M | $196.22M | $208.48M | -32.4% |
| Cash & short-term investments | $490.60M | $544.59M | $602.07M | $196.22M | $208.48M | -9.9% |
| Accounts receivable | $888.00K | $0 | $1.28M | $10.00M | $1.62M | — |
| Total current assets | $507.51M | $561.27M | $614.81M | $215.49M | $223.56M | -9.6% |
| Property, plant & equipment | $46.33M | $18.07M | $19.86M | $22.07M | $24.29M | +156.4% |
| Total assets | $558.32M | $583.54M | $638.50M | $241.38M | $252.35M | -4.3% |
| Total current liabilities | $50.81M | $49.83M | $95.06M | $85.90M | $87.41M | +2.0% |
| Total debt | $43.59M | $15.71M | $17.77M | $19.77M | $21.71M | +177.4% |
| Total liabilities | $104.80M | $71.81M | $120.14M | $116.83M | $113.09M | +45.9% |
| Retained earnings | -$1.42B | -$1.35B | -$1.33B | -$1.27B | -$1.22B | -5.1% |
| Shareholder equity | $453.52M | $511.73M | $518.36M | $124.55M | $139.27M | -11.4% |
| Working capital | $456.69M | $511.44M | $519.75M | $129.59M | $136.15M | -10.7% |
| Net tangible assets | $453.52M | $511.73M | $518.36M | $124.55M | $139.27M | -11.4% |
| Shares issued | 193.28M | 192.34M | 187.66M | 160.29M | 155.67M | +0.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | -$69.36M | -$26.09M | -$53.18M | -$53.85M | -$50.47M | — | -165.9% |
| Depreciation & amortisation | $2.37M | $2.31M | $2.26M | $2.23M | $2.20M | — | +2.8% |
| Stock-based compensation | $10.73M | $9.06M | $7.35M | $6.47M | $6.20M | — | +18.4% |
| Change in working capital | $2.74M | -$44.83M | $9.79M | $484.00K | -$3.94M | — | +106.1% |
| Operating cash flow | -$53.58M | -$59.55M | -$33.78M | -$44.67M | -$46.01M | — | +10.0% |
| Capital expenditure | -$884.00K | -$438.00K | — | -$248.00K | -$306.00K | -$165.00K | -101.8% |
| Investing cash flow | -$123.45M | -$438.00K | $1.00K | -$248.00K | -$306.00K | — | -28,085.8% |
| Financing cash flow | $330.00K | $2.53M | $439.69M | $32.69M | $11.69M | — | -86.9% |
| Free cash flow | -$54.47M | -$59.99M | -$33.77M | -$44.91M | -$46.32M | — | +9.2% |
| End cash position | $371.82M | $548.41M | $605.87M | $200.01M | $212.26M | — | -32.2% |
Options analytics
Put / call volume
0.04
Call-heavy session
Put / call open interest
0.14
Positioning, not flow
Max pain
12.00
+240.9% from spot
ATM implied vol
25.0%
Nearest strike to spot
Skew (10% OTM)
0.0%
Calls bid over puts
Call volume
2.13K
Contracts, this expiry
Put volume
79
Contracts, this expiry
Heaviest call OI
12.00
172 contracts
Heaviest put OI
12.00
33 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.30 | -0.34 | -14.4% |
| Mar 2026 | -0.31 | -0.13 | +58.5% |
| Dec 2025 | -0.26 | -0.30 | -13.5% |
| Sep 2025 | -0.30 | -0.32 | -8.2% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.32 | 15 | $4.48M | -41.1% |
| Next quarter | -0.33 | 14 | $6.10M | -64.6% |
| Current year | -1.10 | 15 | $50.93M | +19.2% |
| Next year | -1.16 | 16 | $35.53M | -30.2% |
Analyst targets & ownership
Mean target$18.06
High target$42.00
Low target$10.00
Implied upside408.61%
Analyst count18
ConsensusSTRONG BUY
Strong buy / Buy2 / 15
Hold2
Sell / Strong sell0 / 0
Held by insiders15.50%
Held by institutions85.37%
Institutions holding329
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
3.76
-5.66% from price
SMA 20
4.13
-14.82% from price
SMA 50
4.87
-27.79% from price
SMA 100
5.46
-34.98% from price
SMA 200
8.56
-58.89% from price
EMA 12
3.88
-8.52% from price
EMA 26
4.25
-16.39% from price
EMA 50
4.74
-25.04% from price
RSI (14)
25.8
Oversold
MACD (12,26,9)
-0.37
Hist -0.01
ATR (14)
0.24
6.94% of price
Realised vol 30D
45.2%
Annualised
Bollinger upper
4.93
20, 2σ
Bollinger lower
3.34
20, 2σ
50 / 200 cross
Death
4.87 vs 8.56
Trend bias
Below 200
-58.89%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.27
More volatile than market
Correlation to SPY
0.10
Largely independent
Realised vol 30D
45.2%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-83.5%
Peak to trough
Max drawdown 5Y
-83.5%
Peak to trough
ATR 14
0.24
6.94% of price
Beta (reported)
-1.43
5Y monthly, from filing
Short interest
Shares short
17.64M
Prior 16.20M
Change vs prior
+8.9%
Shorts adding
% of float
11.04%
Elevated
% of shares out
8.95%
Against total outstanding
Days to cover
5.5
Crowded exit
Float
94.57M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Oct 1, 26 | Ladenburg Thalmann | INITIATED | — | Buy |
| Sep 23, 26 | JP Morgan | DOWNGRADE | Overweight | Neutral |
| Aug 4, 26 | Mizuho | MAINTAINED | Outperform | Outperform |
| Jul 31, 26 | Citigroup | MAINTAINED | Buy | Buy |
| Jul 31, 26 | B. Riley Securities | MAINTAINED | Buy | Buy |
| Jul 31, 26 | Wedbush | MAINTAINED | Outperform | Outperform |
| May 20, 26 | Wells Fargo | MAINTAINED | Overweight | Overweight |
| May 19, 26 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
| May 4, 26 | Citigroup | MAINTAINED | Buy | Buy |
| Apr 30, 26 | Canaccord Genuity | MAINTAINED | Buy | Buy |
| Apr 29, 26 | Truist Securities | MAINTAINED | Buy | Buy |
| Apr 14, 26 | HC Wainwright & Co. | MAINTAINED | Buy | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio—
Ex-dividend date—
Next pay date—
Last split—
Split date—
SEC filings
Offering Registrations
S-8 POS · 2026-08-10
Corporate Changes & Voting Matters
8-K12B · 2026-08-07
Corporate Changes & Voting Matters
8-K · 2026-07-30
Corporate Changes & Voting Matters
8-K · 2026-06-26
Corporate Changes & Voting Matters
8-K · 2026-05-18
Proxy Statements
DEF 14A · 2026-05-07
A correspondence can be sent as a document with another submission type or can be sent as a separate submission
CORRESP · 2026-05-01
Periodic Financial Reports
10-K/A · 2026-04-30
Headlines
Lilly, Foghorn part ways; Wave’s FDA-approved plans
BioPharma Dive · 6d ago
Wave Life Sciences Says FDA Feedback Supports Registrational Pathway for WVE-006
MT Newswires · 6d ago
Wave Life Sciences Announces FDA Feedback Supports Registrational Pathway for WVE-006 (RNA Editing) in AATD
GlobeNewswire · 6d ago
Ladenburg Thalmann Initiates Wave Life Sciences at Buy With $10 Price Target
MT Newswires · 6d ago
Sector Update: Healthcare Stocks Lean Lower Pre-Bell Wednesday
MT Newswires · 7d ago
Wave Life Sciences Earns $12 Million Milestone as GSK Advances Liver Drug
MT Newswires · 7d ago
Wave Life Sciences Announces GSK’s Selection of siRNA program to Transition to GSK for Further Development
GlobeNewswire · 7d ago
4 RNA Therapeutics Stocks Leading the Next Wave of Innovation
Zacks · 9d ago
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