Wave Life Sciences Ltd. (NASDAQ: WVE) stock jumped 2.70% on Tuesday to $3.81 against a previous-day closing price of $3.71. With 1.0 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.35 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.0899 whereas the lowest price it dropped to was $3.2000. The 52-week range on WVE shows that it touched its highest point at $7.12 and its lowest point at $1.16 during that stretch. It currently has a 1-year price target of $8.57. Beta for the stock currently stands at -0.90.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WVE was up-trending over the past week, with a rise of 2.70%, but this was down by -5.22% over a month. Three-month performance dropped to -11.40% while six-month performance fell -4.75%. The stock gained 209.76% in the past year, while it has lost -45.57% so far this year. A look at the trailing 12-month EPS for WVE yields -1.77 with Next year EPS estimates of -1.33. For the next quarter, that number is -0.35. This implies an EPS growth rate of 13.00% for this year and 1.50% for next year.
Float and Shares Shorts:
At present, 102.06 million WVE shares are outstanding with a float of 72.78 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.95 million, which was 1.99% higher than short shares on Mar 30, 2023. In addition to Dr. Paul B. Bolno M.B.A., M.D., MBA as the firm’s Pres, CEO & Director, Mr. Kyle B. Moran CFA serves as its CFO & Principal Accounting Officer.
Institutional Ownership:
Through their ownership of 70.21% of WVE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.34% of WVE, in contrast to 41.53% held by mutual funds. Shares owned by individuals account for 13.69%. As the largest shareholder in WVE with 17.53% of the stake, RA Capital Management LP holds 17,202,009 shares worth 17,202,009. A second-largest stockholder of WVE, Maverick Capital Ltd., holds 7,097,664 shares, controlling over 7.24% of the firm’s shares. 683 Capital Management LLC is the third largest shareholder in WVE, holding 6,000,000 shares or 6.12% stake. With a 4.58% stake in WVE, the BB Biotech AG is the largest stakeholder. A total of 4,494,458 shares are owned by the mutual fund manager. The PRIMECAP Odyssey Aggressive Growt, which owns about 3.66% of WVE stock, is the second-largest Mutual Fund holder. It holds 3,585,770 shares valued at 14.31 million. Fidelity Select Port. – Biotechno holds 0.99% of the stake in WVE, owning 970,833 shares worth 3.87 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, WVE reported revenue of $375.00k and operating income of -$42.16M. The EBITDA in the recently reported quarter was -$39.78M and diluted EPS was -$0.62.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WVE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With WVE analysts setting a high price target of $17.00 and a low target of $4.00, the average target price over the next 12 months is $8.57. Based on these targets, WVE could surge 346.19% to reach the target high and rise by 4.99% to reach the target low. Reaching the average price target will result in a growth of 124.93% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded WVE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 9,480,052 while 59,636 shares were sold.
