Wave Life Sciences Ltd. (NASDAQ:WVE) to Post Q3 2024 Earnings of ($0.41) Per Share, B. Riley Forecasts

Wave Life Sciences Ltd. (NASDAQ:WVE) – Equities research analysts at B. Riley issued their Q3 2024 earnings per share estimates for shares of Wave Life Sciences in a research note issued on Wednesday, September 18th. B. Riley analyst M. El-Saadi anticipates that the company will earn ($0.41) per share for the quarter. B. Riley currently 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 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). The firm had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the previous year, the firm earned ($0.20) EPS.

WVE has been the subject of a number of other reports. JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a report on Monday, September 9th. They issued an “overweight” rating and a $10.00 price objective for the company. Mizuho reaffirmed an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday, June 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Wave Life Sciences in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Wave Life Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Wave Life Sciences Stock Performance

Shares of NASDAQ WVE opened at $5.68 on Monday. The firm’s 50 day moving average price is $5.84 and its 200-day moving average price is $5.80. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $7.67. The company has a market cap of $695.66 million, a PE ratio of -10.92 and a beta of -1.13.

Institutional Investors Weigh In On Wave Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of WVE. Mackenzie Financial Corp lifted its holdings in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after purchasing an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares during the period. Rhumbline Advisers boosted its holdings in Wave Life Sciences by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after buying an additional 4,092 shares during the period. Swiss National Bank increased its stake in Wave Life Sciences by 2.7% in the 1st 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. Finally, Capstone Investment Advisors LLC raised its holdings in Wave Life Sciences by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after acquiring an additional 4,500 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the company’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 sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.