B. Riley Research Analysts Cut Earnings Estimates for WVE

Wave Life Sciences Ltd. (NASDAQ:WVE) – Stock analysts at B. Riley cut their FY2024 earnings per share estimates for Wave Life Sciences in a research report issued to clients and investors on Wednesday, November 13th. B. Riley analyst M. El-Saadi now anticipates that the company will earn ($1.16) per share for the year, down from their previous estimate of ($0.97). B. Riley has a “Buy” rating and a $22.00 price target 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 subject of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. Royal Bank of Canada raised their target price on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their target price on shares of Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.89.

Wave Life Sciences Stock Up 10.6 %

Wave Life Sciences stock opened at $14.21 on Monday. 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 $10.90 and its two-hundred day moving average price is $7.60. The stock has a market cap of $2.17 billion, a P/E ratio of -12.80 and a beta of -1.20.

Insider Activity

In related news, CFO Kyle Moran sold 17,146 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now directly owns 19,777 shares in the company, valued at approximately $177,993. This represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Francis sold 208,836 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.67, for a total transaction of $2,854,788.12. The disclosure for this sale can be found here. Insiders have sold a total of 403,690 shares of company stock worth $5,675,883 over the last ninety days. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Advisers LLC bought a new stake in Wave Life Sciences in the second quarter worth $12,441,000. Maverick Capital Ltd. lifted its stake in shares of Wave Life Sciences by 31.0% in the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock valued at $82,390,000 after acquiring an additional 2,378,159 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Wave Life Sciences in the 2nd quarter valued at about $9,086,000. Artal Group S.A. increased its stake in Wave Life Sciences by 34.7% in the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after purchasing an additional 1,044,000 shares during the period. Finally, FMR LLC lifted its position in Wave Life Sciences by 174.5% in the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after purchasing an additional 979,110 shares during the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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.