B. Riley Has Bearish Forecast for WVE FY2029 Earnings

WAVE Life Sciences Ltd. (NASDAQ:WVE) – Equities researchers at B. Riley reduced their FY2029 earnings per share (EPS) estimates for shares of WAVE Life Sciences in a note issued to investors on Tuesday, November 11th. B. Riley analyst M. El-Saadi now forecasts that the company will post earnings of $0.81 per share for the year, down from their previous estimate of $0.82. B. Riley currently has a “Buy” rating on the stock. The consensus estimate for WAVE Life Sciences’ current full-year earnings is ($1.14) per share.

WVE has been the subject of a number of other reports. Wells Fargo & Company lowered their price target on WAVE Life Sciences from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday. Canaccord Genuity Group began coverage on shares of WAVE Life Sciences in a research note on Monday, August 4th. They set a “buy” rating and a $19.00 price target on the stock. Leerink Partners set a $26.00 price objective on WAVE Life Sciences in a report on Wednesday, September 3rd. Wedbush lifted their target price on shares of WAVE Life Sciences from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Citigroup began coverage on WAVE Life Sciences in a research report on Wednesday, July 16th. They set a “buy” rating and a $16.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, WAVE Life Sciences has an average rating of “Moderate Buy” and a consensus price target of $19.73.

WAVE Life Sciences Price Performance

Shares of WVE stock traded down $0.08 during trading hours on Thursday, reaching $6.88. 1,030,981 shares of the stock were exchanged, compared to its average volume of 1,697,152. The business’s fifty day moving average is $7.46 and its two-hundred day moving average is $7.56. The firm has a market capitalization of $1.09 billion, a P/E ratio of -7.62 and a beta of -1.44. WAVE Life Sciences has a 12-month low of $5.28 and a 12-month high of $16.38.

WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Monday, November 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $7.61 million during the quarter, compared to analysts’ expectations of $9.85 million.

Insider Buying and Selling at WAVE Life Sciences

In other news, Director Gregory L. Verdine sold 10,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the director directly owned 285,217 shares of the company’s stock, valued at approximately $2,852,170. This trade represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Bolno sold 217,351 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $10.10, for a total transaction of $2,195,245.10. Following the sale, the chief executive officer owned 121,000 shares in the company, valued at $1,222,100. This trade represents a 64.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 23.98% of the stock is owned by insiders.

Institutional Trading of WAVE Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Bessemer Group Inc. raised its position in shares of WAVE Life Sciences by 1,156.3% during the third quarter. Bessemer Group Inc. now owns 9,925 shares of the company’s stock worth $72,000 after purchasing an additional 9,135 shares during the period. Russell Investments Group Ltd. boosted its position in shares of WAVE Life Sciences by 1,441.6% in the third quarter. Russell Investments Group Ltd. now owns 9,928 shares of the company’s stock worth $73,000 after buying an additional 9,284 shares during the period. Ameritas Investment Partners Inc. raised its position in WAVE Life Sciences by 18.7% during the second quarter. Ameritas Investment Partners Inc. now owns 11,444 shares of the company’s stock valued at $74,000 after buying an additional 1,802 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of WAVE Life Sciences by 44.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the company’s stock worth $76,000 after purchasing an additional 3,609 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of WAVE Life Sciences during the 2nd quarter valued at $80,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.