Equities research analysts predict that WAVE Life Sciences Ltd. (NASDAQ:WVE) will report sales of $770,000.00 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for WAVE Life Sciences’ earnings. The highest sales estimate is $1.20 million and the lowest is $500,000.00. WAVE Life Sciences reported sales of $390,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 97.4%. The firm is scheduled to announce its next earnings report on Wednesday, November 8th.

According to Zacks, analysts expect that WAVE Life Sciences will report full-year sales of $770,000.00 for the current year, with estimates ranging from $2.40 million to $3.90 million. For the next year, analysts anticipate that the business will report sales of $5.28 million per share, with estimates ranging from $2.40 million to $8.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow WAVE Life Sciences.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Wednesday, August 9th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.14). WAVE Life Sciences had a negative return on equity of 55.19% and a negative net margin of 3,375.12%. The firm had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.73 million.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. BidaskClub raised shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Mizuho set a $34.00 price target on shares of WAVE Life Sciences and gave the company a “buy” rating in a report on Friday, August 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $40.00 price target (down previously from $42.00) on shares of WAVE Life Sciences in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $40.00.

In other news, Director Masaharu Tanaka sold 20,747 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $24.21, for a total value of $502,284.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 53.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of WVE. Redmile Group LLC grew its stake in WAVE Life Sciences by 75.0% during the second quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock worth $41,374,000 after buying an additional 953,310 shares during the period. Vanguard Group Inc. grew its stake in WAVE Life Sciences by 40.3% during the second quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock worth $4,012,000 after buying an additional 61,910 shares during the period. Northern Trust Corp grew its stake in WAVE Life Sciences by 66.3% during the second quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock worth $3,085,000 after buying an additional 66,120 shares during the period. State Street Corp grew its stake in WAVE Life Sciences by 26.6% during the second quarter. State Street Corp now owns 151,241 shares of the company’s stock worth $2,815,000 after buying an additional 31,743 shares during the period. Finally, Sabby Management LLC purchased a new stake in WAVE Life Sciences during the second quarter worth approximately $2,636,000. 69.79% of the stock is owned by hedge funds and other institutional investors.

Shares of WAVE Life Sciences (NASDAQ WVE) opened at 23.05 on Wednesday. The stock’s market capitalization is $639.87 million. WAVE Life Sciences has a 1-year low of $15.15 and a 1-year high of $40.15. The stock’s 50 day moving average is $23.09 and its 200 day moving average is $20.84.

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WAVE Life Sciences Company Profile

WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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