10 Best Biotech Stocks to Buy Under $10

2. Wave Life Sciences Ltd. (NASDAQ:WVE)

Number of Hedge Fund Holders: 36 

Share Price: $9.45 

Wave Life Sciences Ltd. (NASDAQ:WVE) is a Singapore-based clinical-stage biotechnology company developing RNA-based therapies using its proprietary PRISM platform. The company targets rare and prevalent diseases, including alpha-1 antitrypsin deficiency (AATD), Duchenne muscular dystrophy (DMD), Huntington’s disease, and obesity.

Wave Life Sciences Ltd. (NASDAQ:WVE) reported promising preclinical results for WVE-007, an obesity candidate that modulates the INHBE gene to reduce fat, preserve muscle, and promote healthy weight loss, presented at the American Diabetes Association’s Annual Scientific Sessions.

Clinical progress includes positive data from the FORWARD-53 trial with WVE-N531 for DMD, showing functional improvement and reversal of muscle damage after 48 weeks. Early human trial results for WVE-006 in AATD demonstrated significant increases in AAT protein levels after a single low dose, reaffirming the business’s potential in RNA editing therapies. These milestones have strengthened investor confidence and led to analyst upgrades.

Despite challenges such as quarterly sales declines and higher net losses due to heavy R&D investment, Wave Life Sciences Ltd. (NASDAQ:WVE) is advancing multiple RNA-based programs toward pivotal trials. The obesity candidate WVE-007 represents a potential new revenue stream, reducing reliance on collaboration revenue.