10 Biggest Stocks with Negative Beta to Consider

8. Wave Life Sciences (NASDAQ:WVE)  

Number of Hedge Fund Investors: 30  

Beta: -1.12  

Market Cap as of October 13: $1.31 Billion  

Wave is a biotechnology company that uses novel oligonucleotide chemistry to develop precision medicines. The company focuses on genetic diseases, with therapies designed to correct or silence faulty genes.

Wave Life Sciences (NASDAQ:WVE) is developing a treatment for Duchenne Muscular Dystrophy (DMD), a devastating muscle-wasting disease that affects 1 in every 5,000 newborns globally. The company’s candidate, WVE-N531, a treatment specifically designed for patients with a mutation in exon 53 of the dystrophin gene. It is a type of gene therapy that aims to restore the production of dystrophin protein in the muscles, which can help slow down or stop the progression of DMD. WVE-N531 has shown strong results in patients.

On September 24, Wave Life Sciences (NASDAQ:WVE) announced positive interim data for WVE-N531. The data showed >5% dystrophin production in patients, which is the same bar that enabled competitors to secure approval, with 9 out of 10 patients achieving this level. The data also showed improvement in several muscle health biomarkers. The safety data was also strong, with only mild treatment-emergent adverse events (TEAEs) reported.

As of 1H, Wave Life Sciences (NASDAQ:WVE) has a cash position of $153 million and a net loss of $64.4 million. The company will likely need to raise additional funding to complete a regulatory study. Analysts have a consensus Buy rating on Wave Life Sciences’ (NASDAQ:WVE) stock, with a target price of $16.00, indicating a potential gain of 60% from its current price.