HC Wainwright Predicts Lower Earnings for Wave Life Sciences

Wave Life Sciences Ltd. (NASDAQ:WVE) – Research analysts at HC Wainwright decreased their FY2024 earnings per share estimates for Wave Life Sciences in a note issued to 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 previous estimate of ($1.27). HC Wainwright 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.

A number of other brokerages have also recently weighed in on WVE. Truist Financial raised their price target on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Raymond James upgraded shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $13.00 to $22.00 in a research report on Wednesday, October 16th. StockNews.com lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Finally, B. Riley lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.89.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $14.21 on Monday. The business has a 50 day moving average price of $10.90 and a 200 day moving average price of $7.60. The company has a market capitalization of $2.17 billion, a P/E ratio of -12.80 and a beta of -1.20. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $16.74.

Institutional Trading of Wave Life Sciences

A number of hedge funds have recently made changes to their positions in WVE. Mirae Asset Global Investments Co. Ltd. grew its holdings in Wave Life Sciences by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock valued at $37,000 after purchasing an additional 856 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of 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 acquiring an additional 1,905 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock worth $628,000 after acquiring an additional 4,092 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock worth $966,000 after acquiring an additional 4,100 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Activity

In other Wave Life Sciences news, major shareholder Plc Gsk bought 2,791,930 shares of Wave Life Sciences stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed 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 in the company, valued at approximately $177,993. This represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 403,690 shares of company stock valued at $5,675,883 in the last three months. Corporate insiders own 29.10% 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.