Zacks: Brokerages Expect Wave Life Sciences Ltd. (NASDAQ:WVE) Will Announce Quarterly Sales of $3.25 Million

Wall Street analysts expect Wave Life Sciences Ltd. (NASDAQ:WVE – Get Rating) to announce sales of $3.25 million for the current quarter, according to Zacks. Four analysts have provided estimates for Wave Life Sciences’ earnings, with the highest sales estimate coming in at $5.50 million and the lowest estimate coming in at $2.00 million. Wave Life Sciences posted sales of $2.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.9%. The company is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Wave Life Sciences will report full-year sales of $12.06 million for the current financial year, with estimates ranging from $8.00 million to $18.25 million. For the next financial year, analysts forecast that the company will post sales of $16.58 million, with estimates ranging from $8.00 million to $31.64 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Wave Life Sciences.

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

Several research analysts have weighed in on the stock. HC Wainwright lowered their target price on shares of Wave Life Sciences from $10.00 to $8.00 in a research report on Friday, May 13th. StockNews.com initiated coverage on shares of Wave Life Sciences in a research report on Thursday, March 31st. They set a “hold” rating for the company.

In other Wave Life Sciences news, insider Chandra Vargeese sold 16,714 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $1.72, for a total value of $28,748.08. Following the completion of the transaction, the insider now directly owns 111,095 shares in the company, valued at $191,083.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Paul Bolno sold 33,501 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $1.72, for a total transaction of $57,621.72. Following the completion of the transaction, the chief executive officer now owns 436,825 shares of the company’s stock, valued at $751,339. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,236 shares of company stock worth $95,006. Insiders own 28.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of WVE. BNP Paribas Arbitrage SA increased its position in Wave Life Sciences by 309.8% during the third quarter. BNP Paribas Arbitrage SA now owns 7,396 shares of the company’s stock worth $36,000 after acquiring an additional 5,591 shares during the period. Point72 Hong Kong Ltd increased its holdings in Wave Life Sciences by 227.6% in the 3rd quarter. Point72 Hong Kong Ltd now owns 7,843 shares of the company’s stock valued at $38,000 after buying an additional 5,449 shares during the period. Citigroup Inc. increased its holdings in Wave Life Sciences by 69.7% in the 3rd quarter. Citigroup Inc. now owns 8,158 shares of the company’s stock valued at $40,000 after buying an additional 3,352 shares during the period. Invesco Ltd. acquired a new stake in shares of Wave Life Sciences in the 2nd quarter valued at $84,000. Finally, Barclays PLC boosted its stake in shares of Wave Life Sciences by 225.6% in the 3rd quarter. Barclays PLC now owns 15,617 shares of the company’s stock valued at $77,000 after purchasing an additional 10,821 shares in the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.

Shares of Wave Life Sciences stock opened at $1.27 on Friday. The company’s 50-day simple moving average is $1.99 and its 200-day simple moving average is $2.77. Wave Life Sciences has a 52-week low of $1.16 and a 52-week high of $7.55. The firm has a market cap of $77.79 million, a price-to-earnings ratio of -0.60 and a beta of 0.49.

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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