B. Riley Has Pessimistic Outlook of WVE FY2029 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – B. Riley dropped their FY2029 earnings estimates for Wave Life Sciences in a research report issued to clients and investors on Thursday, May 8th. B. Riley analyst M. El-Saadi now expects that the company will post earnings of $0.83 per share for the year, down from their prior estimate of $0.84. The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.14) per share.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The company had revenue of $9.18 million during the quarter, compared to the consensus estimate of $11.65 million. During the same quarter in the previous year, the business posted ($0.24) EPS.

Several other analysts have also issued reports on WVE. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday, March 26th. StockNews.com lowered Wave Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday. Cantor Fitzgerald started coverage on Wave Life Sciences in a research note on Tuesday, April 29th. They set an “overweight” rating and a $10.00 target price for the company. Finally, Wedbush began coverage on shares of Wave Life Sciences in a research report on Tuesday, April 8th. They set an “outperform” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.17.

Wave Life Sciences Stock Up 0.8%

WVE stock opened at $6.59 on Monday. The company’s 50-day moving average price is $7.78 and its two-hundred day moving average price is $11.13. The firm has a market cap of $1.02 billion, a P/E ratio of -5.94 and a beta of -0.92. Wave Life Sciences has a 12 month low of $4.25 and a 12 month high of $16.74.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.77, for a total value of $102,585.00. Following the completion of the sale, the director now directly owns 16,115 shares of the company’s stock, valued at approximately $157,443.55. The trade was a 39.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 169,025 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. This represents a 33.31% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Hedge Funds Weigh In On Wave Life Sciences

Institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in shares of Wave Life Sciences in the first quarter worth approximately $103,000. Charles Schwab Investment Management Inc. raised its stake in shares of Wave Life Sciences by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 963,125 shares of the company’s stock worth $7,782,000 after purchasing an additional 48,656 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Wave Life Sciences by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company’s stock worth $25,908,000 after buying an additional 23,891 shares during the last quarter. Privium Fund Management B.V. increased its stake in shares of Wave Life Sciences by 29.0% during the 1st quarter. Privium Fund Management B.V. now owns 113,550 shares of the company’s stock worth $917,000 after purchasing an additional 25,550 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Wave Life Sciences during the first quarter valued at $225,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.