Wave Life Sciences Ltd. (NASDAQ:WVE) to Post Q3 2024 Earnings of ($0.34) Per Share, B. Riley Forecasts

Wave Life Sciences Ltd. (NASDAQ:WVE) – Stock analysts at B. Riley boosted their Q3 2024 earnings estimates for Wave Life Sciences in a research report issued to clients and investors on Thursday, October 3rd. B. Riley analyst M. El-Saadi now forecasts that the company will post earnings of ($0.34) per share for the quarter, up from their previous estimate of ($0.41). B. Riley has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.04) per share. B. Riley also issued estimates for Wave Life Sciences’ Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.97) EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at ($0.75) EPS, FY2027 earnings at ($0.10) EPS and FY2028 earnings at $0.20 EPS.

Several other research analysts have also recently commented on the company. Royal Bank of Canada boosted their target price on Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Friday. Mizuho reaffirmed an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday, June 25th. HC Wainwright upped their price target on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. began coverage on Wave Life Sciences in a research note on Friday, September 27th. They set an “overweight” rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Wave Life Sciences Price Performance

Shares of Wave Life Sciences stock opened at $8.41 on Monday. The stock has a market capitalization of $1.03 billion, a P/E ratio of -16.17 and a beta of -1.10. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $9.92. The business has a 50 day simple moving average of $6.25 and a two-hundred day simple moving average of $5.92.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The firm had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. During the same quarter last year, the business earned ($0.20) earnings per share.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Ameritas Investment Partners Inc. boosted its stake in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares in the last quarter. Profund Advisors LLC purchased a new position in shares of Wave Life Sciences in the second quarter valued at approximately $53,000. Principal Financial Group Inc. purchased a new stake in Wave Life Sciences during the 2nd quarter worth about $74,000. Mackenzie Financial Corp grew its stake in shares of Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Wave Life Sciences in the 2nd quarter valued at $104,000. Institutional investors own 89.73% of the company’s stock.

Insider Buying and Selling at Wave Life Sciences

In related news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the transaction, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares in the company, valued at approximately $177,993. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.