Wave Life Sciences Ltd. (NASDAQ:WVE) to post Q3 2024 earnings per share of ($0.41), B. Riley forecasts

Wave Life Sciences Ltd. (NASDAQ:WVE – Free Report) – Equities research analysts at B. Riley issued their Q3 2024 earnings per share estimates for shares of Wave Life Sciences in a research note issued on Wednesday, September 18. B. Riley analyst M. El-Saadi anticipates that the company will earn ($0.41) per share for the quarter. B. Riley currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.04) per share. B. Riley also issued estimates for Wave Life Sciences Q4 2024 earnings at ($0.16) EPS, FY2024 earnings at ($1.07) EPS, FY2025 earnings at ($0.88) EPS , FY2026 earnings at ($0.96) EPS at ($0.96) 2 ($70.20) EPS Revenue and FY2028 at ($0.19) EPS.

Wave Life Sciences (NASDAQ:WVE – Get Free Report ) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million during the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. In the same quarter last year, the firm earned ($0.20) EPS.

WVE has been the subject of a number of other reports. JPMorgan Chase & Co. initiated coverage on shares of Wave Life Sciences in a report on Monday, September 9th. They issued an “overweight” rating and a $10.00 price objective for the company. Mizuho reaffirmed an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a report on Tuesday, June 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Wave Life Sciences in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Wave Life Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $12.50, according to MarketBeat .

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Wave Life Sciences stock performance

Shares of NASDAQ WVE stock opened at $5.68 on Monday. The company’s 50-day moving average price is $5.84 and its 200-day moving average price is $5.80. Wave Life Sciences has a 52-week low of $3.50 and a 52-week high of $7.67. The company has a market cap of $695.66 million, a PE ratio of -10.92 and a beta of -1.13.

Institutional investors weigh in on Life Sciences wave

Several hedge funds and other institutional investors have recently modified their holdings of WVE. Mackenzie Financial Corp boosted its holdings in 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. boosted its holdings in Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after buying an additional 2,451 shares during the period. Rhumbline Advisers boosted its holdings in 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 buying an additional 4,092 shares during the period. Swiss National Bank raised its stake in 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 purchasing an additional 4,100 shares during the last quarter. Finally, Capstone Investment Advisors LLC boosted its holdings in Wave Life Sciences by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock valued at $336,000 after acquiring an additional 4,500 shares during the period. 89.73% of the shares are currently held by hedge funds and other institutional investors.

Insiders place their bets

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Insiders own 29.10% of the company’s shares.

Wave Life Sciences Company Profile

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Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops and commercializes ribonucleic acid (RNA) drugs through PRISM, a drug discovery and development platform. The company’s RNA drug platform, PRISM, combines multiple modalities, chemistry innovations and deep insights into human genetics to deliver scientific discoveries that treat both rare and prevalent disorders.

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