Wall Street brokerages expect Wave Life Sciences Ltd (NASDAQ:WVE) to report sales of $630,000.00 for the current quarter, Zacks reports. Three analysts have made estimates for Wave Life Sciences’ earnings, with estimates ranging from $500,000.00 to $700,000.00. Wave Life Sciences reported sales of $680,000.00 during the same quarter last year, which indicates a negative year over year growth rate of 7.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, March 15th.

According to Zacks, analysts expect that Wave Life Sciences will report full year sales of $630,000.00 for the current year, with estimates ranging from $2.50 million to $2.70 million. For the next year, analysts anticipate that the business will report sales of $4.27 million per share, with estimates ranging from $2.00 million to $8.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.94) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.03. Wave Life Sciences had a negative return on equity of 59.52% and a negative net margin of 3,338.68%. The business had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.77 million.

WVE has been the subject of a number of recent research reports. Mizuho set a $34.00 target price on Wave Life Sciences and gave the company a “buy” rating in a report on Friday, August 18th. Zacks Investment Research raised Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. BidaskClub raised Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $53.00 price target (up from $42.00) on shares of Wave Life Sciences in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.60.

Wave Life Sciences (NASDAQ:WVE) traded up $0.25 during trading hours on Friday, reaching $36.80. The company had a trading volume of 199,051 shares, compared to its average volume of 286,384. Wave Life Sciences has a 52-week low of $15.15 and a 52-week high of $39.70. The company has a quick ratio of 11.50, a current ratio of 11.50 and a debt-to-equity ratio of 0.01.

In related news, insider Chandra Vargeese sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $35.00, for a total value of $52,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Masaharu Tanaka sold 20,747 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $24.21, for a total value of $502,284.87. The disclosure for this sale can be found here. 53.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Wave Life Sciences by 50.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,104 shares of the company’s stock worth $876,000 after purchasing an additional 15,754 shares during the period. Swiss National Bank grew its holdings in shares of Wave Life Sciences by 60.0% in the 2nd quarter. Swiss National Bank now owns 18,400 shares of the company’s stock worth $342,000 after acquiring an additional 6,900 shares during the period. Geode Capital Management LLC grew its holdings in shares of Wave Life Sciences by 4.6% in the 1st quarter. Geode Capital Management LLC now owns 76,478 shares of the company’s stock worth $2,103,000 after acquiring an additional 3,397 shares during the period. Marshall Wace North America L.P. grew its holdings in shares of Wave Life Sciences by 105.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 61,286 shares of the company’s stock worth $1,164,000 after acquiring an additional 31,464 shares during the period. Finally, Deschutes Portfolio Strategy LLC grew its holdings in shares of Wave Life Sciences by 152.4% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 26,824 shares of the company’s stock worth $499,000 after acquiring an additional 16,196 shares during the period. Institutional investors own 73.74% of the company’s stock.

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About Wave Life Sciences

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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