Wave Life Sciences (WVE) Announces Quarterly Earnings Results

Wave Life Sciences (NASDAQ:WVE) posted its earnings results on Thursday. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.88), Bloomberg Earnings reports. Wave Life Sciences had a negative return on equity of 76.93% and a negative net margin of 2,613.03%. The firm had revenue of $4.88 million during the quarter, compared to analysts’ expectations of $7.38 million.

Shares of Wave Life Sciences traded up $3.30, reaching $42.30, during trading on Friday, MarketBeat.com reports. The company had a trading volume of 2,195 shares, compared to its average volume of 139,522. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -10.99 and a beta of 0.69. Wave Life Sciences has a 12 month low of $16.05 and a 12 month high of $55.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.24 and a quick ratio of 7.24.

Several analysts have issued reports on the stock. TheStreet cut shares of Wave Life Sciences from a “c-” rating to a “d+” rating in a research note on Thursday, May 31st. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a research note on Friday, June 29th. ValuEngine upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. BidaskClub cut shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. Finally, Stifel Nicolaus assumed coverage on shares of Wave Life Sciences in a research note on Monday. They issued a “buy” rating and a $56.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $55.33.

In other news, insider Paul Bolno sold 31,711 shares of the stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $45.00, for a total value of $1,426,995.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Francis sold 24,496 shares of the stock in a transaction on Monday, July 9th. The stock was sold at an average price of $37.27, for a total transaction of $912,965.92. The disclosure for this sale can be found here. Insiders sold a total of 105,199 shares of company stock worth $4,630,337 in the last three months. Insiders own 44.20% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily 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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Earnings History for Wave Life Sciences (NASDAQ:WVE)

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