B. Riley Reduces Earnings Estimates for WAVE Life Sciences

Key Points

• B. Riley has reduced its earnings per share estimate for WAVE Life Sciences for FY2029 from $0.83 to $0.82, while the current consensus estimate stands at ($1.14) per share.
• WAVE Life Sciences posted a quarterly earnings report showing an EPS of ($0.31), which missed the consensus estimate of ($0.29), with actual revenue reported at $8.70 million versus anticipated $11.52 million.
• The stock has received various ratings from research analysts, with an average target price of $20.36, indicating general optimism although the stock trades significantly lower at around $8.63.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) - B. Riley reduced their FY2029 earnings per share (EPS) estimates for shares of WAVE Life Sciences in a note issued to investors on Thursday, July 31st. B. Riley analyst M. El-Saadi now anticipates that the company will post earnings of $0.82 per share for the year, down from their previous forecast of $0.83. 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 posted its quarterly earnings data on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). The business had revenue of $8.70 million during the quarter, compared to analysts' expectations of $11.52 million.

Several other research analysts also recently issued reports on WVE. Wedbush reaffirmed an "outperform" rating and set a $18.00 price objective on shares of WAVE Life Sciences in a report on Monday, June 23rd. Oppenheimer began coverage on WAVE Life Sciences in a report on Monday, July 28th. They set an "outperform" rating and a $24.00 price objective on the stock. Citigroup began coverage on WAVE Life Sciences in a report on Wednesday, July 16th. They set a "buy" rating and a $16.00 price objective on the stock. Cantor Fitzgerald began coverage on WAVE Life Sciences in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective on the stock. Finally, Raymond James Financial began coverage on shares of WAVE Life Sciences in a research report on Wednesday, June 11th. They set an "outperform" rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.36.

WAVE Life Sciences Stock Performance

NASDAQ:WVE opened at $8.63 on Monday. The stock's fifty day moving average price is $7.22 and its two-hundred day moving average price is $8.27. WAVE Life Sciences has a 52-week low of $5.04 and a 52-week high of $16.74. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -9.59 and a beta of -0.95.

Insider Activity at WAVE Life Sciences

In related news, Director Gregory L. Verdine sold 30,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.95, for a total value of $208,500.00. Following the completion of the sale, the director owned 282,517 shares in the company, valued at $1,963,493.15. This represents a 9.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WAVE Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WVE. GF Fund Management CO. LTD. acquired a new position in WAVE Life Sciences in the 4th quarter worth $40,000. Quarry LP acquired a new position in WAVE Life Sciences in the 4th quarter worth $62,000. Knott David M Jr acquired a new position in shares of WAVE Life Sciences during the 1st quarter worth about $81,000. Ascent Group LLC acquired a new position in shares of WAVE Life Sciences during the 1st quarter worth about $83,000. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of WAVE Life Sciences during the 1st quarter worth about $103,000. 89.73% of the stock is owned by institutional investors and hedge funds.

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.

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