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:WVEGet 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:WVEGet 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.

Featured Articles

Get a free copy of the Zacks research report on Wave Life Sciences (WVE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Wave Life Sciences (NASDAQ:WVE)

Receive News & Ratings for Wave Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wave Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.