Q3 2024 Earnings Forecast for Wave Life Sciences Ltd. Issued By B. Riley (NASDAQ:WVE)

Wave Life Sciences Ltd. (NASDAQ:WVE) – Equities researchers at B. Riley issued their Q3 2024 EPS estimates for Wave Life Sciences in a research note issued to investors on Wednesday, September 18th. B. Riley analyst M. El-Saadi anticipates that the company will post earnings of ($0.41) per share for the quarter. B. Riley has a “Buy” rating and a $11.00 price objective 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, FY2027 earnings at ($0.23) EPS and FY2028 earnings at ($0.19) EPS.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. The business had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. During the same quarter last year, the firm posted ($0.20) earnings per share.

Several other equities analysts also recently commented on the company. Mizuho restated an “outperform” rating and set a $19.00 target price on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. began coverage on shares of Wave Life Sciences in a research note on Monday, September 9th. They issued an “overweight” rating and a $10.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Wave Life Sciences Trading Down 6.0 %

NASDAQ WVE opened at $5.34 on Monday. Wave Life Sciences has a 1-year low of $3.50 and a 1-year high of $7.67. The company has a market capitalization of $654.02 million, a price-to-earnings ratio of -10.27 and a beta of -1.13. The stock’s 50 day moving average is $5.83 and its two-hundred day moving average is $5.79.

Insider Transactions at Wave Life Sciences

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its position in Wave Life Sciences by 13.6% during the 2nd 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 period. Ameritas Investment Partners Inc. lifted 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 valued at $45,000 after buying an additional 2,451 shares during the period. Rhumbline Advisers boosted its stake in Wave Life Sciences by 3.4% in the second quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after acquiring an additional 4,092 shares during the last quarter. Swiss National Bank grew 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 acquiring an additional 4,100 shares during the period. Finally, Capstone Investment Advisors LLC raised its position in shares of Wave Life Sciences by 9.0% during the 1st 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 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.