What is B. Riley's Estimate for WVE FY2029 Earnings?

Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) - Investment analysts at B. Riley cut their FY2029 earnings estimates for shares of Wave Life Sciences in a research report issued on Thursday, May 8th. B. Riley analyst M. El-Saadi now forecasts that the company will post earnings per share of $0.83 for the year, down from their previous forecast of $0.84. The consensus estimate for Wave Life Sciences' current full-year earnings is ($1.14) per share.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $9.18 million during the quarter, compared to the consensus estimate of $11.65 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. During the same quarter last year, the business earned ($0.24) EPS.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Wave Life Sciences from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Wedbush initiated coverage on shares of Wave Life Sciences in a report on Tuesday, April 8th. They issued an "outperform" rating and a $18.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $22.00 target price on shares of Wave Life Sciences in a report on Wednesday, March 26th. Jefferies Financial Group assumed coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a "buy" rating and a $26.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of Wave Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $21.17.

Wave Life Sciences Trading Up 0.5%

WVE traded up $0.03 during trading on Monday, hitting $6.33. The stock had a trading volume of 1,306,010 shares, compared to its average volume of 1,285,047. The firm has a market cap of $975.67 million, a PE ratio of -5.70 and a beta of -0.92. Wave Life Sciences has a 12 month low of $4.25 and a 12 month high of $16.74. The company has a 50 day simple moving average of $7.42 and a 200-day simple moving average of $10.87.

Hedge Funds Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC boosted its position in Wave Life Sciences by 31.5% in the fourth quarter. Moody Aldrich Partners LLC now owns 398,475 shares of the company's stock valued at $4,929,000 after buying an additional 95,413 shares in the last quarter. Arizona State Retirement System boosted its position in Wave Life Sciences by 34.2% in the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after buying an additional 7,846 shares in the last quarter. Corebridge Financial Inc. boosted its position in Wave Life Sciences by 10.7% in the fourth quarter. Corebridge Financial Inc. now owns 45,824 shares of the company's stock valued at $567,000 after buying an additional 4,423 shares in the last quarter. Barclays PLC boosted its position in Wave Life Sciences by 171.1% in the third quarter. Barclays PLC now owns 159,241 shares of the company's stock valued at $1,307,000 after buying an additional 100,498 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Wave Life Sciences by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 3,182,512 shares of the company's stock valued at $39,368,000 after buying an additional 294,956 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Christian O. Henry sold 10,500 shares of Wave Life Sciences stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now directly owns 16,115 shares in the company, valued at approximately $157,443.55. The trade was a 39.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Bolno sold 169,025 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the completion of the transaction, the chief executive officer now owns 338,351 shares in the company, valued at approximately $3,238,019.07. This trade represents a 33.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by company insiders.

Wave Life Sciences Company Profile

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.