Leerink Partnrs Has Bullish Forecast for WVE FY2024 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – Research analysts at Leerink Partnrs lifted their FY2024 earnings estimates for Wave Life Sciences in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now expects that the company will post earnings per share of ($0.86) for the year, up from their previous estimate of ($0.87). The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.06) per share. Leerink Partnrs also issued estimates for Wave Life Sciences’ Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.63) EPS and FY2026 earnings at ($0.92) EPS.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.19). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The business had revenue of ($7.68) million for the quarter, compared to the consensus estimate of $15.45 million.

WVE has been the subject of several other research reports. StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday. Leerink Partners lifted their price objective on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Truist Financial lifted their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Trading Down 8.9 %

Wave Life Sciences stock opened at $13.67 on Friday. The firm has a 50-day moving average price of $10.76 and a 200-day moving average price of $7.52. The firm has a market capitalization of $1.71 billion, a PE ratio of -12.32 and a beta of -1.20. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $16.74.

Institutional Trading of Wave Life Sciences

Several hedge funds have recently made changes to their positions in WVE. Mirae Asset Global Investments Co. Ltd. raised its holdings in Wave Life Sciences by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after purchasing an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Wave Life Sciences in the 2nd quarter valued at $53,000. Principal Financial Group Inc. acquired a new position in shares of Wave Life Sciences in the 2nd quarter valued at $74,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

Insider Transactions at Wave Life Sciences

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This represents a 19.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Bolno sold 51,234 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $14.32, for a total transaction of $733,670.88. Following the sale, the chief executive officer now directly owns 217,351 shares in the company, valued at $3,112,466.32. This represents a 19.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 452,056 shares of company stock valued at $5,955,438 over the last 90 days. 29.10% of the stock is currently owned by corporate 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.