B. Riley Lowers Earnings Estimates for WAVE Life Sciences

WAVE Life Sciences Ltd. (NASDAQ:WVE) – Equities researchers at B. Riley reduced their FY2029 earnings estimates for shares of WAVE Life Sciences in a research note issued on Tuesday, November 11th. B. Riley analyst M. El-Saadi now expects that the company will post earnings of $0.81 per share for the year, down from their previous estimate of $0.82. B. Riley has a “Buy” rating on the stock. The consensus estimate for WAVE Life Sciences’ current full-year earnings is ($1.14) per share.

WAVE Life Sciences (NASDAQ:WVE) last issued its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $7.61 million for the quarter, compared to analysts’ expectations of $9.85 million.

A number of other analysts also recently commented on WVE. Canaccord Genuity Group started coverage on WAVE Life Sciences in a research note on Monday, August 4th. They issued a “buy” rating and a $19.00 target price on the stock. Oppenheimer initiated coverage on WAVE Life Sciences in a research report on Monday, July 28th. They issued an “outperform” rating and a $24.00 price objective on the stock. Leerink Partners set a $26.00 price objective on shares of WAVE Life Sciences in a research note on Wednesday, September 3rd. Wedbush boosted their target price on shares of WAVE Life Sciences from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.73.

WAVE Life Sciences Stock Performance

Shares of WVE opened at $6.67 on Thursday. The business’s 50-day moving average is $7.43 and its two-hundred day moving average is $7.55. The company has a market capitalization of $1.06 billion, a P/E ratio of -7.41 and a beta of -1.44. WAVE Life Sciences has a fifty-two week low of $5.28 and a fifty-two week high of $16.38.

Institutional Investors Weigh In On WAVE Life Sciences

Several institutional investors have recently bought and sold shares of WVE. Federated Hermes Inc. grew its holdings in shares of WAVE Life Sciences by 678,144.7% during the third quarter. Federated Hermes Inc. now owns 3,750,693 shares of the company’s stock worth $27,455,000 after buying an additional 3,750,140 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in WAVE Life Sciences by 30.1% during the first quarter. Adage Capital Partners GP L.L.C. now owns 12,516,500 shares of the company’s stock worth $101,133,000 after acquiring an additional 2,894,396 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in WAVE Life Sciences by 35.3% during the 2nd quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company’s stock valued at $21,422,000 after acquiring an additional 859,160 shares in the last quarter. Stempoint Capital LP raised its holdings in WAVE Life Sciences by 902.2% in the 2nd quarter. Stempoint Capital LP now owns 900,338 shares of the company’s stock valued at $5,852,000 after acquiring an additional 810,505 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its stake in WAVE Life Sciences by 1,489.5% in the 3rd quarter. Kennedy Capital Management LLC now owns 540,437 shares of the company’s stock worth $3,956,000 after purchasing an additional 506,437 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WAVE Life Sciences

In other news, CEO Paul Bolno sold 217,351 shares of WAVE Life Sciences stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $10.10, for a total value of $2,195,245.10. Following the sale, the chief executive officer owned 121,000 shares in the company, valued at $1,222,100. This trade represents a 64.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory L. Verdine sold 10,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the director directly owned 285,217 shares of the company’s stock, valued at $2,852,170. This represents a 3.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.98% of the stock is currently owned by 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.