Research Analysts Issue Forecasts for WVE FY2024 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – Investment analysts at B. Riley cut their FY2024 earnings estimates for Wave Life Sciences in a research report issued on Wednesday, November 13th. B. Riley analyst M. El-Saadi now expects that the company will post earnings per share of ($1.16) for the year, down from their previous forecast of ($0.97). B. Riley currently has a “Buy” rating and a $22.00 target price 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.

A number of other brokerages have also recently commented on WVE. Truist Financial increased their target price on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada increased their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, October 21st. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $13.00 to $22.00 in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.89.

Wave Life Sciences Trading Down 8.9 %

Shares of Wave Life Sciences stock opened at $13.67 on Monday. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74. The firm has a market capitalization of $2.08 billion, a PE ratio of -12.32 and a beta of -1.20. The firm’s 50-day moving average price is $10.76 and its 200 day moving average price is $7.54.

Hedge Funds Weigh In On Wave Life Sciences

A number of hedge funds have recently modified their holdings of WVE. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 raised its stake in shares of Wave Life Sciences by 13.6% in the 2nd quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Wave Life Sciences by 50.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Wave Life Sciences by 3.4% during 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 period. Finally, Swiss National Bank increased its holdings in Wave Life Sciences by 2.7% in the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wave Life Sciences

In other news, CEO Paul Bolno sold 51,234 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $14.32, for a total transaction of $733,670.88. Following the completion of the sale, the chief executive officer now owns 217,351 shares in the company, valued at $3,112,466.32. This trade represents a 19.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. The trade was a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 452,056 shares of company stock worth $5,955,438 in the last quarter. Company insiders own 29.10% of the company’s stock.

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.