B. Riley Cuts Earnings Estimates for Wave Life Sciences

Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) - Equities researchers at B. Riley dropped their FY2024 EPS estimates for Wave Life Sciences in a note issued to investors on Wednesday, November 13th. B. Riley analyst M. El-Saadi now expects that the company will post earnings of ($1.16) per share for the year, down from their prior forecast of ($0.97). B. Riley 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. B. Riley also issued estimates for Wave Life Sciences' Q4 2024 earnings at ($0.19) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at ($0.44) EPS, FY2025 earnings at ($0.95) EPS, FY2026 earnings at ($0.86) EPS, FY2027 earnings at ($0.09) EPS and FY2028 earnings at $0.30 EPS.

WVE has been the topic of several other research reports. Wells Fargo & Company upped their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Leerink Partners raised their target price on Wave Life Sciences from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price target on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Monday, October 21st. Truist Financial lifted 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. Finally, HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.89.

Wave Life Sciences Stock Down 6.0 %

Shares of NASDAQ WVE traded down $0.82 during trading on Monday, reaching $12.85. 1,694,480 shares of the stock were exchanged, compared to its average volume of 1,117,034. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -12.17 and a beta of -1.20. The business's 50-day moving average price is $10.76 and its 200 day moving average price is $7.55.

Institutional Trading of Wave Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wave Life Sciences by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company's stock valued at $37,000 after buying an additional 856 shares during 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 purchasing an additional 1,905 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company's stock valued at $45,000 after purchasing an additional 2,451 shares in the last quarter. Rhumbline Advisers raised its position 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 purchasing an additional 4,092 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Wave Life Sciences by 2.7% during 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. Institutional investors own 89.73% of the company's stock.

Insider Activity

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the company's stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Bolno sold 51,234 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $14.32, for a total value of $733,670.88. Following the completion of the sale, the chief executive officer now directly owns 217,351 shares of the company's stock, valued at $3,112,466.32. This represents a 19.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 452,056 shares of company stock worth $5,955,438 over the last quarter. 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.