HC Wainwright Has Pessimistic Outlook of WVE FY2029 Earnings

WAVE Life Sciences Ltd. (NASDAQ:WVE) – Equities researchers at HC Wainwright reduced their FY2029 EPS estimates for WAVE Life Sciences in a research note issued on Monday, March 2nd. HC Wainwright analyst A. Fein now anticipates that the company will earn $0.61 per share for the year, down from their previous 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 issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). The firm had revenue of $17.25 million during the quarter, compared to the consensus estimate of $15.68 million. WAVE Life Sciences had a negative return on equity of 140.75% and a negative net margin of 478.35%.

A number of other analysts have also commented on WVE. Canaccord Genuity Group lifted their price target on WAVE Life Sciences from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Oppenheimer raised their target price on WAVE Life Sciences from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Raymond James Financial reiterated an “outperform” rating and set a $21.00 target price on shares of WAVE Life Sciences in a research note on Monday, December 8th. Wall Street Zen lowered shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Wells Fargo & Company decreased their price objective on shares of WAVE Life Sciences from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, WAVE Life Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

WAVE Life Sciences Stock Down 3.0%

Shares of NASDAQ WVE opened at $13.44 on Wednesday. The company has a market capitalization of $2.53 billion, a PE ratio of -11.02 and a beta of -1.77. The stock’s 50 day moving average price is $14.28 and its 200-day moving average price is $10.88. WAVE Life Sciences has a twelve month low of $5.28 and a twelve month high of $21.73.

Institutional Investors Weigh In On WAVE Life Sciences

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of WAVE Life Sciences in the fourth quarter worth $176,000. Virtu Financial LLC bought a new position in WAVE Life Sciences in the 4th quarter worth about $457,000. Invesco Ltd. grew its holdings in WAVE Life Sciences by 27.5% during the 4th quarter. Invesco Ltd. now owns 179,932 shares of the company’s stock valued at $3,059,000 after buying an additional 38,806 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of WAVE Life Sciences during the fourth quarter valued at about $12,278,000. Finally, Squadron Capital Management LLC bought a new stake in shares of WAVE Life Sciences during the fourth quarter valued at about $2,975,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Paul Bolno sold 10,480 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $13.45, for a total value of $140,956.00. Following the sale, the chief executive officer directly owned 275,520 shares in the company, valued at approximately $3,705,744. The trade was a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Plc Gsk bought 1,470,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were acquired at an average price of $19.00 per share, with a total value of $27,930,000.00. Following the transaction, the insider directly owned 18,245,691 shares of the company’s stock, valued at approximately $346,668,129. This trade represents a 8.76% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 948,375 shares of company stock worth $14,112,151 in the last quarter. 23.98% of the stock is currently owned by company insiders.

WAVE Life Sciences Company Profile

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.