Wave Life Sciences Ltd. (NASDAQ:WVE) Expected to Post Earnings of -$0.56 Per Share

Wall Street analysts expect Wave Life Sciences Ltd. (NASDAQ:WVE – Get Rating) to announce ($0.56) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Wave Life Sciences’ earnings. The lowest EPS estimate is ($0.63) and the highest is ($0.48). Wave Life Sciences reported earnings of ($0.78) per share in the same quarter last year, which indicates a positive year over year growth rate of 28.2%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Wave Life Sciences will report full-year earnings of ($1.99) per share for the current year, with EPS estimates ranging from ($2.52) to ($1.42). For the next fiscal year, analysts forecast that the business will post earnings of ($1.83) per share, with EPS estimates ranging from ($2.42) to ($0.97). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE – Get Rating) last released its quarterly earnings results on Thursday, March 3rd. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.14). The firm had revenue of $1.77 million for the quarter, compared to the consensus estimate of $18.14 million. Wave Life Sciences had a negative return on equity of 558.73% and a negative net margin of 275.31%. During the same quarter in the prior year, the company posted ($0.59) EPS.

WVE has been the subject of several research analyst reports. HC Wainwright reduced their price objective on shares of Wave Life Sciences from $10.00 to $8.00 in a report on Friday, May 13th. StockNews.com initiated coverage on shares of Wave Life Sciences in a report on Thursday, March 31st. They issued a “hold” rating for the company.

WVE stock traded down $0.04 during trading on Wednesday, hitting $1.23. The company had a trading volume of 1,078 shares, compared to its average volume of 520,349. The firm has a market capitalization of $75.34 million, a price-to-earnings ratio of -0.58 and a beta of 0.49. The business has a 50 day moving average of $2.03 and a 200 day moving average of $2.80. Wave Life Sciences has a fifty-two week low of $1.16 and a fifty-two week high of $7.55.

In other news, CEO Paul Bolno sold 33,501 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $1.72, for a total value of $57,621.72. Following the transaction, the chief executive officer now owns 436,825 shares in the company, valued at approximately $751,339. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chandra Vargeese sold 16,714 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $1.72, for a total value of $28,748.08. Following the sale, the insider now directly owns 111,095 shares of the company’s stock, valued at approximately $191,083.40. The disclosure for this sale can be found here. Insiders sold a total of 55,236 shares of company stock valued at $95,006 over the last three months. 28.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirabella Financial Services LLP acquired a new position in Wave Life Sciences in the first quarter worth $44,000. Goldman Sachs Group Inc. increased its holdings in shares of Wave Life Sciences by 274.8% in the first quarter. Goldman Sachs Group Inc. now owns 421,412 shares of the company’s stock worth $843,000 after acquiring an additional 308,966 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wave Life Sciences by 450.1% in the first quarter. Renaissance Technologies LLC now owns 205,194 shares of the company’s stock worth $410,000 after acquiring an additional 167,894 shares in the last quarter. Kynam Capital Management LP grew its holdings in shares of Wave Life Sciences by 27.9% during the first quarter. Kynam Capital Management LP now owns 1,911,728 shares of the company’s stock worth $3,823,000 after buying an additional 417,134 shares in the last quarter. Finally, M28 Capital Management LP grew its holdings in shares of Wave Life Sciences by 55.4% during the first quarter. M28 Capital Management LP now owns 5,850,000 shares of the company’s stock worth $11,700,000 after buying an additional 2,084,412 shares in the last quarter. 78.68% of the stock is owned by institutional investors.

About Wave Life Sciences (Get Rating)

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. It is developing oligonucleotides target ribonucleic acid to reduce the expression of disease-promoting proteins or restore the production of functional proteins, or modulate protein expression.

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