HC Wainwright Has Negative Estimate for WVE FY2024 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – Research analysts at HC Wainwright cut their FY2024 EPS estimates for shares of Wave Life Sciences in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst A. Fein now anticipates that the company will post earnings of ($1.37) per share for the year, down from their prior forecast of ($1.27). HC Wainwright has a “Buy” rating and a $22.00 price objective on the stock. The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.14) per share. HC Wainwright also issued estimates for Wave Life Sciences’ FY2025 earnings at ($0.74) EPS, FY2026 earnings at $0.08 EPS and FY2027 earnings at $0.71 EPS.

WVE has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Truist Financial upped their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Finally, 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 research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.89.

Wave Life Sciences Trading Down 8.9 %

Shares of WVE stock opened at $13.67 on Monday. The stock has a 50 day simple moving average of $10.76 and a 200 day simple moving average of $7.54. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $16.74. The stock has a market cap of $2.08 billion, a P/E ratio of -12.32 and a beta of -1.20.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Wave Life Sciences by 14.3% during the third quarter. Geode Capital Management LLC now owns 2,269,664 shares of the company’s stock worth $18,615,000 after acquiring an additional 283,419 shares during the last quarter. Barclays PLC raised its holdings in Wave Life Sciences by 171.1% during the 3rd quarter. Barclays PLC now owns 159,241 shares of the company’s stock worth $1,307,000 after purchasing an additional 100,498 shares during the last quarter. Orion Portfolio Solutions LLC bought a new position in Wave Life Sciences during the 3rd quarter worth approximately $123,000. XTX Topco Ltd acquired a new position in shares of Wave Life Sciences in the 3rd quarter worth approximately $126,000. Finally, Jane Street Group LLC boosted its stake in shares of Wave Life Sciences by 33.3% in the 3rd quarter. Jane Street Group LLC now owns 142,014 shares of the company’s stock valued at $1,165,000 after purchasing an additional 35,472 shares during the last quarter. 89.73% of the stock is owned by institutional investors.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This represents a 11.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased 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 directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 452,056 shares of company stock valued at $5,955,438 in the last quarter. 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.