B. Riley Reduces Earnings Estimates for Wave Life Sciences

Wave Life Sciences Ltd. (NASDAQ:WVE) – B. Riley lowered their FY2024 earnings per share (EPS) estimates for Wave Life Sciences in a research note issued on Wednesday, November 13th. B. Riley analyst M. El-Saadi now anticipates that the company will earn ($1.16) per share for the year, down from their prior forecast of ($0.97). B. Riley 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. B. Riley also issued estimates for Wave Life Sciences’ Q4 2024 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at ($0.44) EPS, FY2025 earnings at ($0.95) EPS, FY2026 earnings at ($0.86) EPS, FY2027 earnings at ($0.09) EPS and FY2028 earnings at $0.30 EPS.

WVE has been the subject of a number of other reports. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. StockNews.com cut shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Royal Bank of Canada raised their target price on shares of Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price target on Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.89.

Wave Life Sciences Price Performance

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

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 90,474 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total value of $1,357,110.00. Following the sale, the chief executive officer now directly owns 268,585 shares of the company’s stock, valued at approximately $4,028,775. This represents a 25.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Francis sold 208,836 shares of Wave Life Sciences stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 452,056 shares of company stock valued at $5,955,438. 29.10% of the stock is owned by company insiders.

Institutional Trading of Wave Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank boosted its holdings in Wave Life Sciences by 2.7% during the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock worth $966,000 after buying an additional 4,100 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Wave Life Sciences by 35.0% during the 1st quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock worth $134,000 after acquiring an additional 5,648 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Finally, American International Group Inc. raised its holdings in Wave Life Sciences by 23.3% in the 1st quarter. American International Group Inc. now owns 36,241 shares of the company’s stock worth $224,000 after purchasing an additional 6,851 shares during the period. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Company Profile

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.