Q3 EPS Estimate for Wave Life Sciences Lifted by Analyst

Wave Life Sciences Ltd. (NASDAQ:WVE) – Analysts at Leerink Partnrs increased their Q3 2024 earnings per share estimates for Wave Life Sciences in a research report issued on Wednesday, October 16th. Leerink Partnrs analyst J. Schwartz now forecasts that the company will post earnings per share of ($0.19) for the quarter, up from their prior forecast of ($0.22). The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.02) per share. Leerink Partnrs also issued estimates for Wave Life Sciences’ Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($0.87) EPS, Q1 2025 earnings at ($0.35) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.28) EPS, FY2025 earnings at ($1.36) EPS and FY2026 earnings at ($0.76) EPS.

Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) 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 business had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. During the same period in the prior year, the business earned ($0.20) earnings per share.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $22.00 price target on shares of Wave Life Sciences in a report on Thursday. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $13.00 to $22.00 in a research note on Wednesday. Leerink Partners increased their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.56.

Wave Life Sciences Price Performance

Shares of NASDAQ WVE opened at $15.31 on Friday. The business’s fifty day moving average price is $7.10 and its 200-day moving average price is $6.22. Wave Life Sciences has a one year low of $3.50 and a one year high of $15.92. The stock has a market capitalization of $1.88 billion, a PE ratio of -29.44 and a beta of -1.10.

Institutional Investors Weigh In On Wave Life Sciences

Several large investors have recently bought and sold shares of WVE. Ameritas Investment Partners Inc. lifted its holdings in Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the period. Profund Advisors LLC purchased a new position in shares of Wave Life Sciences in the second quarter worth approximately $53,000. Principal Financial Group Inc. bought a new stake in Wave Life Sciences during the second quarter valued at approximately $74,000. Mackenzie Financial Corp increased its holdings in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Wave Life Sciences in the second quarter worth approximately $104,000. 89.73% of the stock is currently owned by institutional investors.

Insider Transactions at Wave Life Sciences

In other news, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at approximately $177,993. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the transaction, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 364,822 shares of company stock worth $4,645,768. 29.10% of the stock is currently owned by insiders.

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.