Leerink Partnrs Analysts Raise Earnings Estimates for WVE

Wave Life Sciences Ltd. (NASDAQ:WVE) – Analysts at Leerink Partnrs upped their Q3 2024 earnings per share (EPS) estimates for Wave Life Sciences in a research note issued to investors on Wednesday, October 16th. Leerink Partnrs analyst J. Schwartz now expects that the company will post earnings of ($0.19) per share for the quarter, up from their previous forecast of ($0.22). The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.02) per share. Leerink Partnrs also issued estimates for Wave Life Sciences’ Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($0.87) EPS, Q1 2025 earnings at ($0.35) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.28) EPS, FY2025 earnings at ($1.36) EPS and FY2026 earnings at ($0.76) EPS.

Several other research firms have also issued reports on WVE. Wells Fargo & Company upped their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $13.00 to $22.00 in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. B. Riley upped their target price on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their price target on Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wave Life Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Wave Life Sciences Trading Down 1.9 %

NASDAQ WVE opened at $14.61 on Friday. The business has a fifty day simple moving average of $6.90 and a 200 day simple moving average of $6.16. Wave Life Sciences has a 12 month low of $3.50 and a 12 month high of $15.92. The firm has a market capitalization of $1.79 billion, a P/E ratio of -28.10 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same quarter last year, the firm posted ($0.20) EPS.

Institutional Trading of Wave Life Sciences

A number of large investors have recently modified their holdings of WVE. Mackenzie Financial Corp increased its position in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after purchasing an additional 1,905 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Wave Life Sciences by 50.2% during the 1st 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 in the last quarter. Rhumbline Advisers lifted its holdings in shares of Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after acquiring an additional 4,092 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Wave Life Sciences by 2.7% during the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock worth $966,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Capstone Investment Advisors LLC grew its position in Wave Life Sciences by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors own 89.73% of the company’s stock.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, CFO Kyle Moran sold 17,146 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now owns 19,777 shares in the company, valued at $177,993. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Wave Life Sciences news, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kyle Moran sold 17,146 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was 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 of the company’s stock, valued at approximately $177,993. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by company insiders.

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.