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

WAVE Life Sciences (NASDAQ:WVE) posted its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03, FiscalAI reports. WAVE Life Sciences had a negative net margin of 309.73% and a negative return on equity of 50.36%. The business had revenue of $13.16 million during the quarter, compared to analysts’ expectations of $4.51 million.

WAVE Life Sciences Price Performance

NASDAQ:WVE opened at $3.21 on Tuesday. The stock has a market cap of $633.10 million, a PE ratio of -2.94 and a beta of -1.43. WAVE Life Sciences has a fifty-two week low of $3.04 and a fifty-two week high of $21.73. The stock’s 50-day moving average is $4.20 and its two-hundred day moving average is $7.71.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WVE. Citigroup cut their target price on WAVE Life Sciences from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Thursday, October 15th. JPMorgan Chase & Co. initiated coverage on WAVE Life Sciences in a report on Wednesday, September 23rd. They issued a “neutral” rating for the company. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a report on Friday, October 2nd. Finally, William Blair started coverage on WAVE Life Sciences in a research report on Friday, October 16th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.53.

Insider Buying and Selling

In related news, Director Heidi L. Wagner sold 7,000 shares of WAVE Life Sciences stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $6.01, for a total transaction of $42,070.00. Following the completion of the sale, the director owned 44,930 shares of the company’s stock, valued at approximately $270,029.30. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Adrian Rawcliffe sold 12,700 shares of the business’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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,564 shares of company stock valued at $132,476. 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.