WAVE Life Sciences (NASDAQ:WVE – Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.30) earnings per share for the quarter, topping 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 company had revenue of $13.16 million for the quarter, compared to analysts’ expectations of $4.51 million.
WAVE Life Sciences Trading Up 0.9%
Shares of WAVE Life Sciences stock opened at $3.21 on Tuesday. The business has a 50-day moving average price of $4.20 and a two-hundred day moving average price of $7.71. WAVE Life Sciences has a 1-year low of $3.04 and a 1-year high of $21.73. The company has a market cap of $633.10 million, a P/E ratio of -2.94 and a beta of -1.43.
Analysts Set New Price Targets
A number of research firms recently weighed in on WVE. UBS Group initiated coverage on WAVE Life Sciences in a report on Thursday, October 15th. They issued a “buy” rating and a $11.00 price objective for the company. Wall Street Zen lowered WAVE Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. B. Riley Financial reduced their price target on WAVE Life Sciences from $31.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. HC Wainwright reissued a “buy” rating on shares of WAVE Life Sciences in a research note on Friday, October 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.53.
Check Out Our Latest Research Report on WAVE Life Sciences
Insider Activity
In related news, Director Adrian Rawcliffe sold 12,700 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $5.29, for a total transaction of $67,183.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heidi Wagner sold 7,000 shares of the firm’s 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 sale, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,564 shares of company stock valued at $132,476. Corporate insiders own 24.34% of the company’s stock.
WAVE Life Sciences Company Profile
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.
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