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

WAVE Life Sciences (NASDAQ:WVE) 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.