Now Is A Good Time To Buy Wave Life Sciences Ltd. (NASDAQ: WVE)

During the last session, Wave Life Sciences Ltd. (NASDAQ:WVE)’s traded shares were 1.1 million, with the beta value of the company hitting -1.08. At the end of the trading day, the stock’s price was $5.94, reflecting an intraday loss of -4.96% or -$0.31. The 52-week high for the WVE share is $7.67, that puts it down -29.12 from that peak though still a striking 46.97% gain since the share price plummeted to a 52-week low of $3.15. The company’s market capitalization is $726.34M, and the average intraday trading volume over the past 10 days was 0.67 million shares, and the average trade volume was 921.26K shares over the past three months.

Wave Life Sciences Ltd. (NASDAQ:WVE) trade information

Wave Life Sciences Ltd. (WVE) registered a -4.96% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -4.96% in intraday trading to $5.94, hitting a weekly high. The stock’s 5-day price performance is 4.95%, and it has moved by 17.16% in 30 days. Based on these gigs, the overall price performance for the year is 37.18%. The short interest in Wave Life Sciences Ltd. (NASDAQ:WVE) is 3.0 million shares and it means that shorts have 2.16 day(s) to cover.

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Wave Life Sciences Ltd. (WVE) estimates and forecasts

Statistics show that Wave Life Sciences Ltd. has underperformed its competitors in share price, compared to the industry in which it operates. Wave Life Sciences Ltd. (WVE) shares have gone down -1.33% during the last six months, with a year-to-date growth rate less than the industry average at -74.07% against 13.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 22.20% this quarter and then drop -20.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -32.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $22.95 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $19.61 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $32.33 million and $7.94 million respectively. In this case, analysts expect current quarter sales to shrink by -29.00% and then jump by 147.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 36.03%. While earnings are projected to return -87.04% in 2024.

WVE Dividends

Wave Life Sciences Ltd. is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Wave Life Sciences Ltd. (NASDAQ:WVE)’s Major holders

Wave Life Sciences Ltd. insiders own 18.22% of total outstanding shares while institutional holders control 74.84%, with the float percentage being 91.51%. RA Capital Management, L.P. is the largest shareholder of the company, while 161 institutions own stock in it. As of Jun 29, 2023, the company held over 17.2 million shares (or 17.38% of all shares), a total value of $62.62 million in shares.

The next largest institutional holding, with 7.05 million shares, is of M28 Capital Management LP’s that is approximately 7.12% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $25.66 million.

Also, the Mutual Funds coming in first place with the largest holdings of Wave Life Sciences Ltd. (WVE) shares are Primecap Odyssey Aggressive Growth Fund and iShares Russell 2000 ETF. Data provided on Jul 30, 2023 indicates that Primecap Odyssey Aggressive Growth Fund owns about 3.32 million shares. This amounts to just over 3.36 percent of the company’s overall shares, with a $14.52 million market value. The same data shows that the other fund manager holds slightly less at 1.26 million, or about 1.28% of the stock, which is worth about $5.5 million.