WAVE Life Sciences (NASDAQ:WVE) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• WAVE Life Sciences beat quarterly expectations: The company reported a loss of $0.30 per share, $0.03 better than estimates, while revenue of $13.16 million significantly exceeded the $4.51 million consensus forecast.
• The stock remains under pressure: Shares opened at $3.21, near their 52-week low of $3.04 and well below the 52-week high of $21.73; the company also reported deeply negative net margins and return on equity.
• Analyst sentiment is generally positive, but insiders sold shares: The stock carries a “Moderate Buy” consensus rating with an average price target of $21.53, while insiders sold 23,564 shares worth approximately $132,476 over the past 90 days.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03, FiscalAI reports. WAVE Life Sciences had a negative return on equity of 50.36% and a negative net margin of 309.73%. The firm had revenue of $13.16 million during the quarter, compared to analyst estimates of $4.51 million.

WAVE Life Sciences Trading Up 0.9%

Shares of NASDAQ:WVE opened at $3.21 on Tuesday. The firm's 50 day moving average is $4.20 and its two-hundred day moving average is $7.71. WAVE Life Sciences has a 52 week low of $3.04 and a 52 week high of $21.73. The firm has a market capitalization of $633.10 million, a P/E ratio of -2.94 and a beta of -1.43.

Insider Buying and Selling

In related news, Director Heidi Wagner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total value of $42,070.00. Following the completion of the transaction, the director directly owned 44,930 shares of the company's stock, valued at $270,029.30. This represents a 13.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Adrian Rawcliffe sold 12,700 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $5.29, for a total value of $67,183.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 23,564 shares of company stock worth $132,476. Corporate insiders own 24.34% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush set a $13.00 price target on WAVE Life Sciences in a report on Friday, October 2nd. LADENBURG THALM/SH SH began coverage on WAVE Life Sciences in a research report on Thursday, October 1st. They set a "buy" rating and a $10.00 price objective for the company. Citigroup lowered their price objective on WAVE Life Sciences from $24.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, July 31st. William Blair assumed coverage on WAVE Life Sciences in a research report on Friday, October 16th. They issued an "outperform" rating on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of WAVE Life Sciences in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, WAVE Life Sciences presently has an average rating of "Moderate Buy" and an average price target of $21.53.

About WAVE Life Sciences

WAVE Life Sciences Ltd. NASDAQ: WVE is a biotechnology company focused on developing medicines that act on RNA, a molecule involved in translating genetic information into proteins. The company uses its proprietary chemistry and drug-design technologies to create oligonucleotide therapeutics intended to selectively modify RNA and address the underlying causes of genetic diseases.

Its research programs have included RNA editing and RNA-targeting approaches for conditions such as alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy and other serious genetic disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.