Equities Analysts Offer Predictions for WVE FY2024 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – Equities researchers at Leerink Partnrs boosted their FY2024 EPS estimates for shares of Wave Life Sciences in a research report issued to clients and investors on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will earn ($0.86) per share for the year, up from their prior 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 posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.19). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The company had revenue of ($7.68) million for the quarter, compared to analyst estimates of $15.45 million.

A number of other research firms have also recently weighed in on WVE. JPMorgan Chase & Co. upped their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Truist Financial increased their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Leerink Partners increased 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. Finally, B. Riley increased their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. 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 data from MarketBeat.com, Wave Life Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $21.89.

Wave Life Sciences Stock Down 4.4 %

NASDAQ:WVE opened at $15.00 on Friday. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The firm’s fifty day simple moving average is $10.40 and its 200-day simple moving average is $7.41.

Insider Transactions at Wave Life Sciences

In related news, CFO Kyle Moran sold 17,146 shares of the firm’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 trade represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on 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 $2,075,361.02. The trade was a 11.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 400,822 shares of company stock worth $5,221,768 in the last three months. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

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

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.