HC Wainwright Cuts Earnings Estimates for Wave Life Sciences

Wave Life Sciences Ltd. (NASDAQ:WVE) – Analysts at HC Wainwright reduced their FY2024 earnings per share estimates for shares of Wave Life Sciences in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst A. Fein now expects that the company will earn ($1.37) per share for the year, down from their prior estimate of ($1.27). HC Wainwright currently 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. HC Wainwright also issued estimates for Wave Life Sciences’ FY2025 earnings at ($0.74) EPS, FY2026 earnings at $0.08 EPS and FY2027 earnings at $0.71 EPS.

Several other brokerages have also weighed in on WVE. JPMorgan Chase & Co. upped their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Leerink Partners upped their price target on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. StockNews.com downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Finally, B. Riley increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.89.

Wave Life Sciences Stock Down 8.9 %

Wave Life Sciences stock opened at $13.67 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of -12.32 and a beta of -1.20. The firm’s fifty day moving average is $10.76 and its 200 day moving average is $7.54. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $16.74.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul Bolno sold 51,234 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $14.32, for a total value of $733,670.88. Following the completion of the transaction, the chief executive officer now owns 217,351 shares in the company, valued at $3,112,466.32. The trade was a 19.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 452,056 shares of company stock valued at $5,955,438 in the last three months. 29.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WVE. Privium Fund Management B.V. bought a new position in shares of Wave Life Sciences during the 3rd quarter valued at approximately $400,000. Moody Aldrich Partners LLC lifted its stake in Wave Life Sciences by 69.0% in the third quarter. Moody Aldrich Partners LLC now owns 303,062 shares of the company’s stock valued at $2,485,000 after purchasing an additional 123,703 shares during the last quarter. SG Americas Securities LLC bought a new position in Wave Life Sciences during the second quarter valued at $668,000. Vanguard Group Inc. increased its position 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 worth $11,316,000 after buying an additional 521,665 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its stake in shares of Wave Life Sciences by 62.2% in the second quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after buying an additional 348,300 shares during the period. Institutional investors own 89.73% of the company’s stock.

About Wave Life Sciences

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.