Wave Life Sciences Ltd. (NASDAQ:WVE) Expected to Announce Quarterly Sales of $3.25 Million

Brokerages forecast that Wave Life Sciences Ltd. (NASDAQ:WVEGet Rating) will post sales of $3.25 million for the current quarter, Zacks reports. Four analysts have provided estimates for Wave Life Sciences’ earnings. The highest sales estimate is $5.50 million and the lowest is $2.00 million. Wave Life Sciences posted sales of $2.78 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.9%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

On average, 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 fiscal year, analysts anticipate that the company will post sales of $16.58 million, with estimates ranging from $8.00 million to $31.64 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Wave Life Sciences.

A number of research firms have commented on WVE. HC Wainwright dropped their price objective on shares of Wave Life Sciences from $10.00 to $8.00 in a research note on Friday, May 13th. StockNews.com initiated coverage on shares of Wave Life Sciences in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

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

A number of hedge funds have recently added to or reduced their stakes in WVE. M28 Capital Management LP purchased a new stake in Wave Life Sciences during the fourth quarter worth about $11,824,000. Maverick Capital Ltd. lifted its holdings in shares of Wave Life Sciences by 75.2% in the fourth quarter. Maverick Capital Ltd. now owns 5,593,389 shares of the company’s stock valued at $17,563,000 after purchasing an additional 2,400,000 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Wave Life Sciences by 76.8% in the fourth quarter. Bellevue Group AG now owns 4,602,858 shares of the company’s stock valued at $14,453,000 after purchasing an additional 2,000,000 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Wave Life Sciences by 650.6% in the fourth quarter. SG Americas Securities LLC now owns 816,738 shares of the company’s stock valued at $2,565,000 after purchasing an additional 707,924 shares in the last quarter. Finally, Kynam Capital Management LP lifted its holdings in shares of Wave Life Sciences by 27.9% in the first quarter. Kynam Capital Management LP now owns 1,911,728 shares of the company’s stock valued at $3,823,000 after purchasing an additional 417,134 shares in the last quarter. 78.68% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ WVE opened at $2.31 on Friday. The firm has a market cap of $141.49 million, a PE ratio of -1.08 and a beta of 0.51. Wave Life Sciences has a one year low of $1.16 and a one year high of $7.55. The firm’s fifty day moving average is $1.80 and its two-hundred day moving average is $2.45.

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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