HC Wainwright Has Strong Estimate for WVE FY2028 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – Investment analysts at HC Wainwright increased their FY2028 earnings per share estimates for Wave Life Sciences in a research note issued on Wednesday, November 13th. HC Wainwright analyst A. Fein now anticipates that the company will post earnings per share of $1.27 for the year, up from their previous estimate of $1.23. HC Wainwright has a “Buy” rating and a $22.00 price target on the stock. The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.06) per share.

Several other equities analysts have also weighed in on WVE. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $13.00 to $22.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. B. Riley lifted their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial increased their price objective on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada upped their price target on shares of Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wave Life Sciences currently has an average rating of “Moderate Buy” and an average target price of $21.89.

Wave Life Sciences Stock Performance

Shares of Wave Life Sciences stock opened at $15.00 on Friday. The firm has a 50-day simple moving average of $10.40 and a two-hundred day simple moving average of $7.41. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $16.74. The company has a market cap of $1.87 billion, a P/E ratio of -13.51 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Tuesday, November 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.19). Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The firm had revenue of ($7.68) million during the quarter, compared to analyst estimates of $15.45 million.

Hedge Funds Weigh In On Wave Life Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maverick Capital Ltd. boosted its holdings in Wave Life Sciences by 31.0% in the third quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock valued at $82,390,000 after purchasing an additional 2,378,159 shares during the period. Artal Group S.A. raised its stake in Wave Life Sciences by 34.7% in the first quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock valued at $24,997,000 after buying an additional 1,044,000 shares in the last quarter. Emerald Advisers LLC lifted its holdings in Wave Life Sciences by 15.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,881,510 shares of the company’s stock worth $23,628,000 after buying an additional 388,280 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Wave Life Sciences by 16.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 2,123,466 shares of the company’s stock worth $17,412,000 after acquiring an additional 302,528 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Wave Life Sciences by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,861,254 shares of the company’s stock valued at $11,485,000 after acquiring an additional 233,891 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Activity at Wave Life Sciences

In other news, insider Chris Francis sold 36,000 shares of Wave Life Sciences stock in a transaction on Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Plc Gsk purchased 2,791,930 shares of Wave Life Sciences stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 400,822 shares of company stock worth $5,221,768. Insiders own 29.10% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.