Brokers Set Expectations for Wave Life Sciences Ltd.’s Q3 2024 Earnings (NASDAQ:WVE)

Wave Life Sciences Ltd. (NASDAQ:WVE) – Equities research analysts at B. Riley issued their Q3 2024 EPS estimates for Wave Life Sciences in a research note issued to investors on Wednesday, September 18th. B. Riley analyst M. El-Saadi anticipates that the company will post earnings per share of ($0.41) for the quarter. B. Riley has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.04) per share. B. Riley also issued estimates for Wave Life Sciences’ Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($1.07) EPS, FY2025 earnings at ($0.88) EPS, FY2026 earnings at ($0.96) EPS, FY2027 earnings at ($0.23) EPS and FY2028 earnings at ($0.19) 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 the consensus estimate of $24.80 million. During the same quarter last year, the firm posted ($0.20) earnings per share.

Other analysts also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Mizuho reiterated an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. started coverage on Wave Life Sciences in a research report on Monday, September 9th. They issued an “overweight” rating and a $10.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Wave Life Sciences Stock Performance

NASDAQ:WVE opened at $8.19 on Monday. The stock has a 50-day simple moving average of $5.87 and a two-hundred day simple moving average of $5.80. The firm has a market capitalization of $1.00 billion, a PE ratio of -15.75 and a beta of -1.13. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $8.35.

Institutional Trading of Wave Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in WVE. Emerald Advisers LLC bought a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $12,441,000. Emerald Mutual Fund Advisers Trust purchased a new position in Wave Life Sciences during the 2nd quarter worth $9,086,000. Artal Group S.A. raised its position in Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after purchasing an additional 1,044,000 shares in the last quarter. Ikarian Capital LLC purchased a new stake in shares of Wave Life Sciences in the 1st quarter worth $3,641,000. Finally, 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 worth $11,316,000 after buying an additional 521,665 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 29.10% 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.