HC Wainwright Expects Lower Earnings for WAVE Life Sciences

WAVE Life Sciences Ltd. (NASDAQ:WVE) – Equities researchers at HC Wainwright dropped their FY2029 earnings per share (EPS) estimates for shares of WAVE Life Sciences in a research report issued to clients and investors on Monday, March 2nd. HC Wainwright analyst A. Fein now forecasts that the company will post earnings per share of $0.61 for the year, down from their prior forecast of $0.62. HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for WAVE Life Sciences’ current full-year earnings is ($1.14) per share. HC Wainwright also issued estimates for WAVE Life Sciences’ FY2030 earnings at $3.66 EPS.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). WAVE Life Sciences had a negative net margin of 478.35% and a negative return on equity of 85.69%. The firm had revenue of $17.25 million during the quarter, compared to the consensus estimate of $15.68 million.

A number of other research firms also recently weighed in on WVE. Royal Bank Of Canada upgraded shares of WAVE Life Sciences from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $9.00 to $27.00 in a report on Monday, December 8th. Wall Street Zen lowered WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. UBS Group set a $32.00 price target on WAVE Life Sciences in a research report on Tuesday, December 16th. Oppenheimer increased their price objective on WAVE Life Sciences from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. Finally, Cantor Fitzgerald raised their price objective on WAVE Life Sciences from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, WAVE Life Sciences presently has an average rating of “Moderate Buy” and an average price target of $33.00.

WAVE Life Sciences Stock Up 2.0%

NASDAQ WVE opened at $13.71 on Wednesday. The stock has a market capitalization of $2.58 billion, a PE ratio of -11.24 and a beta of -1.77. The company has a 50 day moving average price of $14.19 and a two-hundred day moving average price of $10.90. WAVE Life Sciences has a 12-month low of $5.28 and a 12-month high of $21.73.

Insider Transactions at WAVE Life Sciences

In other news, CEO Paul Bolno sold 10,480 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $13.45, for a total value of $140,956.00. Following the sale, the chief executive officer owned 275,520 shares in the company, valued at approximately $3,705,744. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chandra Vargeese sold 3,228 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $13.45, for a total transaction of $43,416.60. Following the transaction, the insider owned 408,246 shares of the company’s stock, valued at approximately $5,490,908.70. The trade was a 0.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 948,375 shares of company stock worth $14,112,151. Insiders own 23.98% of the company’s stock.

Institutional Investors Weigh In On WAVE Life Sciences

Institutional investors have recently added to or reduced their stakes in the stock. GSK plc acquired a new position in shares of WAVE Life Sciences in the 4th quarter worth approximately $310,177,000. Adage Capital Partners GP L.L.C. grew its position in WAVE Life Sciences by 20.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock valued at $97,607,000 after acquiring an additional 2,500,000 shares during the period. Price T Rowe Associates Inc. MD raised its stake in WAVE Life Sciences by 83.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock worth $125,927,000 after acquiring an additional 3,362,880 shares in the last quarter. Darwin Global Management Ltd. bought a new position in shares of WAVE Life Sciences during the fourth quarter valued at $125,168,000. Finally, Federated Hermes Inc. grew its holdings in shares of WAVE Life Sciences by 26.5% in the 4th quarter. Federated Hermes Inc. now owns 4,744,520 shares of the company’s stock worth $80,657,000 after purchasing an additional 993,827 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.