$18.14 million in sales expected for Wave Life Sciences Ltd. (NASDAQ:WVE) this quarter

Wall Street brokers expect Wave Life Sciences Ltd. (NASDAQ:WVE – Get Rating) reports sales of $18.14 million for the current quarter, according to Zacks. Five analysts made earnings estimates for Wave Life Sciences. The lowest sales estimate is $7.22 million and the highest is $26.00 million. Wave Life Sciences reported sales of $9.44 million in the same quarter last year, indicating a positive year-over-year growth rate of 92.2%. The company is expected to release its next quarterly results on Thursday, March 3.

According to Zacks, analysts expect Wave Life Sciences to report annual revenue of $57.34 million for the current fiscal year, with estimates ranging from $46.42 million to $65.20. millions of dollars. For the next fiscal year, analysts expect the company to report sales of $23.00 million, with estimates ranging from $10.00 to $50.00 million. Zacks sales calculations are an average average based on a survey of sell-side research companies that cover Wave Life Sciences.

Separately, Zacks Investment Research upgraded Wave Life Sciences from a “sell” rating to a “hold” rating in a Tuesday, November 16 research note. Three equity research analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, Wave Life Sciences has a consensus rating of “Hold” and an average price target of $10.00.

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In other Wave Life Sciences news, CEO Paul Bolno sold 33,150 shares in a trade on Wednesday, February 16. The stock was sold at an average price of $2.32, for a total value of $76,908.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Last quarter, insiders sold 63,080 shares of the company valued at $146,152. 28.40% of the shares are held by company insiders.

Several large investors have recently changed their stake in the company. M28 Capital Management LP acquired a new stake in Wave Life Sciences in Q4 for a value of approximately $11,824,000. Maverick Capital Ltd. increased its stake in Wave Life Sciences by 75.2% in the 4th quarter. Maverick Capital Ltd. now owns 5,593,389 shares of the company worth $17,563,000 after purchasing an additional 2,400,000 shares last quarter. Bellevue Group AG increased its stake in Wave Life Sciences by 76.8% in the 4th quarter. Bellevue Group AG now owns 4,602,858 shares of the company worth $14,453,000 after purchasing an additional 2,000,000 shares last quarter. Artal Group SA acquired a new stake in Wave Life Sciences in the 3rd quarter for a value of approximately $4,900,000. Finally, SG Americas Securities LLC increased its stake in Wave Life Sciences by 650.6% in the 4th quarter. SG Americas Securities LLC now owns 816,738 shares of the company worth $2,565,000 after purchasing an additional 707,924 shares last quarter. Hedge funds and other institutional investors hold 70.16% of the company’s shares.

Shares of WVE opened at $2.79 on Friday. The company has a market capitalization of $164.14 million, a P/E ratio of -1.19 and a beta of 0.50. The stock has a 50-day simple moving average of $2.76 and a 200-day simple moving average of $4.19. Wave Life Sciences has a 1-year low of $2.03 and a 1-year high of $11.09.

About Wave Life Sciences (Get a rating)

Wave Life Sciences Ltd. is a biotechnology company dedicated to the development of a proprietary synthetic chemistry drug. It focuses on the design, development and commercialization of nucleic acid therapies. The company was founded by Gregory L. Verdine and Takeshi Wada on July 23, 2012 and is based in Singapore.

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Earnings history and estimates for Wave Life Sciences (NASDAQ:WVE)

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