Leerink Partnrs Has Bullish Forecast for WVE FY2024 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) - Leerink Partnrs increased their FY2024 earnings per share estimates for Wave Life Sciences in a report released on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will post earnings per share of ($0.86) for the year, up from their prior estimate of ($0.87). The consensus estimate for Wave Life Sciences' current full-year earnings is ($1.06) per share. Leerink Partnrs also issued estimates for Wave Life Sciences' Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.63) EPS and FY2026 earnings at ($0.92) EPS.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.19). 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 ($7.68) million for the quarter, compared to analyst estimates of $15.45 million.

Several other analysts have also weighed in on the company. Royal Bank of Canada boosted their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a "sector perform" rating in a report on Monday, October 21st. Raymond James upgraded Wave Life Sciences from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $13.00 to $22.00 in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Wave Life Sciences from $11.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price 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. Finally, B. Riley raised their price target on shares of 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 research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.89.

Wave Life Sciences Stock Down 8.9 %

Shares of WVE traded down $1.33 during midday trading on Friday, hitting $13.67. The company had a trading volume of 1,432,809 shares, compared to its average volume of 1,114,433. Wave Life Sciences has a 52 week low of $3.50 and a 52 week high of $16.74. The company's 50 day moving average price is $10.40 and its 200 day moving average price is $7.41. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -13.51 and a beta of -1.20.

Insider Buying and Selling at Wave Life Sciences

In other Wave Life Sciences news, insider Chris Francis sold 36,000 shares of Wave Life Sciences stock in a transaction on Friday, November 8th. The stock was sold at an average price of $16.00, for a total transaction of $576,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Paul Bolno sold 90,474 shares of Wave Life Sciences stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $15.00, for a total transaction of $1,357,110.00. Following the sale, the chief executive officer now owns 268,585 shares in the company, valued at approximately $4,028,775. This represents a 25.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 400,822 shares of company stock valued at $5,221,768 in the last ninety days. Company insiders own 29.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC bought a new stake in shares of Wave Life Sciences in the 3rd quarter worth $123,000. XTX Topco Ltd acquired a new position in Wave Life Sciences during the third quarter worth about $126,000. Jane Street Group LLC raised its position in Wave Life Sciences by 33.3% in the third quarter. Jane Street Group LLC now owns 142,014 shares of the company's stock worth $1,165,000 after acquiring an additional 35,472 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Wave Life Sciences in the 3rd quarter valued at about $164,000. Finally, State Street Corp boosted its position in shares of Wave Life Sciences by 2.6% during the 3rd quarter. State Street Corp now owns 2,321,248 shares of the company's stock valued at $19,034,000 after purchasing an additional 57,822 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

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.