We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wave Life Sciences (WVE) Moves 74.1% Higher: Will This Strength Last?
Read MoreHide Full Article
Wave Life Sciences (WVE - Free Report) shares rallied 74.1% in the last trading session to close at $14.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 49.9% gain over the past four weeks.
The sudden rise in the stock price was observed after the company announced positive proof-of-mechanism data, showing first-ever therapeutic RNA editing in humans, from the first single-dose cohort (200 mg) of the phase Ib/IIa RestorAATion-2 study of WVE-006 for alpha-1 antitrypsin deficiency. Wave Life Sciences also reported that WVE-006 was overall well-tolerated and demonstrated a favorable safety profile. Adverse events related to treatment with the candidate to date were mild to moderate in severity. The company expects to report multidose data from the phase Ib/IIa RestorAATion-2 study of WVE-006 for AATD in 2025. Based on the encouraging single-dose results, management expects M-AAT levels to continue to increase with repeat dosing of WVE-006.
This biopharmaceutical company is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of -500%. Revenues are expected to be $15.45 million, down 68.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Wave Life Sciences, the consensus EPS estimate for the quarter has been revised 9.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WVE going forward to see if this recent jump can turn into more strength down the road.
Wave Life Sciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Bristol Myers Squibb (BMY - Free Report) , closed the last trading session 1.2% higher at $53.37. Over the past month, BMY has returned 6.6%.
Bristol Myers' consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $1.52. Compared to the company's year-ago EPS, this represents a change of -24%. Bristol Myers currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Wave Life Sciences (WVE) Moves 74.1% Higher: Will This Strength Last?
Wave Life Sciences (WVE - Free Report) shares rallied 74.1% in the last trading session to close at $14.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 49.9% gain over the past four weeks.
The sudden rise in the stock price was observed after the company announced positive proof-of-mechanism data, showing first-ever therapeutic RNA editing in humans, from the first single-dose cohort (200 mg) of the phase Ib/IIa RestorAATion-2 study of WVE-006 for alpha-1 antitrypsin deficiency. Wave Life Sciences also reported that WVE-006 was overall well-tolerated and demonstrated a favorable safety profile. Adverse events related to treatment with the candidate to date were mild to moderate in severity. The company expects to report multidose data from the phase Ib/IIa RestorAATion-2 study of WVE-006 for AATD in 2025. Based on the encouraging single-dose results, management expects M-AAT levels to continue to increase with repeat dosing of WVE-006.
This biopharmaceutical company is expected to post quarterly loss of $0.28 per share in its upcoming report, which represents a year-over-year change of -500%. Revenues are expected to be $15.45 million, down 68.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Wave Life Sciences, the consensus EPS estimate for the quarter has been revised 9.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WVE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Wave Life Sciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Bristol Myers Squibb (BMY - Free Report) , closed the last trading session 1.2% higher at $53.37. Over the past month, BMY has returned 6.6%.
Bristol Myers' consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $1.52. Compared to the company's year-ago EPS, this represents a change of -24%. Bristol Myers currently boasts a Zacks Rank of #3 (Hold).