(WVE) Wave Life Sciences - Overview

Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 1.237m USD | Total Return: 4.8% in 12m

RNA Medicines, Oligonucleotides, Genetic Therapies
Total Rating 21
Safety 51
Buy Signal -0.41
Biotechnology
Industry Rotation: -8.2
Market Cap: 1.24B
Avg Turnover: 29.2M
Risk 3d forecast
Volatility84.0%
VaR 5th Pctl12.7%
VaR vs Median-11.1%
Reward TTM
Sharpe Ratio0.59
Rel. Str. IBD3.6
Rel. Str. Peer Group4.5
Character TTM
Beta2.220
Beta Downside2.169
Hurst Exponent0.442
Drawdowns 3y
Max DD71.19%
CAGR/Max DD0.28
CAGR/Mean DD0.66
EPS (Earnings per Share) EPS (Earnings per Share) of WVE over the last years for every Quarter: "2021-03": -0.86, "2021-06": -0.78, "2021-09": -0.12, "2021-12": -0.61, "2022-03": -0.62, "2022-06": -0.62, "2022-09": -0.42, "2022-12": -0.47, "2023-03": -0.27, "2023-06": -0.2, "2023-09": 0.07, "2023-12": -0.15, "2024-03": -0.24, "2024-06": -0.25, "2024-09": -0.466, "2024-12": 0.17, "2025-03": -0.29, "2025-06": -0.31, "2025-09": -0.32, "2025-12": -0.3, "2026-03": -0.1303,
Last SUE: 1.26
Qual. Beats: 1
Revenue Revenue of WVE over the last years for every Quarter: 2021-03: 9.439, 2021-06: 2.776, 2021-09: 36.423, 2021-12: 1.765, 2022-03: 1.75, 2022-06: 0.375, 2022-09: 0.285, 2022-12: 1.239, 2023-03: 12.929, 2023-06: 22.106, 2023-09: 49.214, 2023-12: 29.056, 2024-03: 12.538, 2024-06: 19.692, 2024-09: -7.676, 2024-12: 83.748, 2025-03: 9.175, 2025-06: 8.699, 2025-09: 7.608, 2025-12: 17.245, 2026-03: 38.246,
Rev. CAGR: 0.78%
Rev. Trend: 1.7%
Last SUE: 1.31
Qual. Beats: 1

Warnings

Share dilution 23.2% YoY

Altman Z'' -0.74 < 1.0 - financial distress zone

Fakeout Below Avwap Earnings

Tailwinds

Confidence

Description: WVE Wave Life Sciences

Wave Life Sciences Ltd. is a clinical-stage biotechnology firm specializing in RNA-based therapeutics. Utilizing its proprietary PRISM platform, the company develops oligonucleotides designed to address genetic disorders through RNA editing, splicing, and silencing. Its current pipeline includes candidates for alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy, Huntington’s disease, and obesity.

The company operates within the precision medicine sector, where therapies are engineered to target specific genetic sequences rather than broad protein structures. Wave Life Sciences utilizes a partnership-heavy business model, maintaining strategic collaborations with GlaxoSmithKline and Takeda Pharmaceutical to offset research costs and leverage global commercialization infrastructure. For a deeper analysis of these strategic partnerships and their impact on valuation, consult ValueRay.

Headquartered in Singapore and founded in 2012, the firm focuses on GalNAc-conjugation technology. This chemical modification enhances the delivery of RNA medicines to the liver, a common strategy in the biotechnology industry to improve the potency and safety profiles of systemic treatments.

Headlines to Watch Out For
  • Clinical trial data readouts for RNA editing candidate WVE-006 drive valuation
  • GSK partnership milestones and royalty streams provide essential non-dilutive capital funding
  • Regulatory approval pathways for exon skipping therapies impact DMD program commercialization
  • PRISM platform scalability determines efficiency of early-stage pipeline asset development
  • Huntington’s disease clinical data determines success of allele-selective oligonucleotide programs
Piotroski VR-10 (Strict) 1.0
Net Income: -183.6m TTM > 0 and > 6% of Revenue
FCF/TA: -0.31 > 0.02 and ΔFCF/TA 31.47 > 1.0
NWC/Revenue: 712.3% < 20% (prev 162.6%; Δ 549.8% < -1%)
CFO/TA -0.31 > 3% & CFO -182.4m > Net Income -183.6m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 11.26 > 1.5 & < 3
Outstanding Shares: last quarter (200.2m) vs 12m ago 23.16% < -2%
Gross Margin: 87.67% > 18% (prev 0.31%; Δ 8.74k% > 0.5%)
Asset Turnover: 16.47% > 50% (prev 36.39%; Δ -19.92% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM)
Altman Z'' -0.74
A: 0.88 (Total Current Assets 561.3m - Total Current Liabilities 49.8m) / Total Assets 583.5m
B: -2.32 (Retained Earnings -1.35b / Total Assets 583.5m)
C: -0.44 (EBIT TTM -191.1m / Avg Total Assets 435.9m)
D: 3.82 (Book Value of Equity 274.3m / Total Liabilities 71.8m)
Altman-Z'' = -0.74 = B
Beneish M -3.88
DSRI: 1.31 (Receivables 1.28m/1.42m, Revenue 71.8m/104.9m)
GMI: 0.36 (GM 87.67% / 31.17%)
AQI: 0.49 (AQ_t 0.01 / AQ_t-1 0.01)
SGI: 0.68 (Revenue 71.8m / 104.9m)
TATA: -0.00 (NI -183.6m - CFO -182.4m) / TA 583.5m)
Beneish M = -3.88 (Cap -4..+1) = AAA
What is the price of WVE shares?

As of May 24, 2026, the stock is trading at USD 6.42 with a total of 3,644,934 shares traded.
Over the past week, the price has changed by -5.76%, over one month by -13.55%, over three months by -52.74% and over the past year by +4.76%.

Is WVE a buy, sell or hold?

Wave Life Sciences has received a consensus analysts rating of 4.62. Therefore, it is recommended to buy WVE.

  • StrongBuy: 9
  • Buy: 3
  • Hold: 1
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the WVE price?
Analysts Target Price 21.9 241.7%
Wave Life Sciences (WVE) - Fundamental Data Overview as of 23 May 2026
P/S = 17.2256
P/B = 2.4138
Revenue TTM = 71.8m USD
EBIT TTM = -191.1m USD
EBITDA TTM = -182.1m USD
Long Term Debt = 7.39m USD (estimated: total debt 15.7m - short term 8.33m)
Short Term Debt = 8.33m USD (from shortTermDebt, last quarter)
Debt = 15.7m USD (from shortLongTermDebtTotal, last quarter) (leases 15.7m already included)
Net Debt = -528.9m USD (calculated: Debt 15.7m - CCE 544.6m)
Enterprise Value = 707.9m USD (1.24b + Debt 15.7m - CCE 544.6m)
 Interest Coverage Ratio = unknown (Ebit TTM -191.1m / Interest Expense TTM 0.0)
 EV/FCF = -3.86x (Enterprise Value 707.9m / FCF TTM -183.3m)
FCF Yield = -25.90% (FCF TTM -183.3m / Enterprise Value 707.9m)
 FCF Margin = -255.4% (FCF TTM -183.3m / Revenue TTM 71.8m)
 Net Margin = -255.7% (Net Income TTM -183.6m / Revenue TTM 71.8m)
 Gross Margin = 87.67% ((Revenue TTM 71.8m - Cost of Revenue TTM 8.85m) / Revenue TTM)
Gross Margin QoQ = none% (prev 86.88%)
Tobins Q-Ratio = 1.21 (Enterprise Value 707.9m / Total Assets 583.5m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 15.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = -151.0m (EBIT -191.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 11.26 (Total Current Assets 561.3m / Total Current Liabilities 49.8m)
Debt / Equity = 0.03 (Debt 15.7m / totalStockholderEquity, last quarter 511.7m)
 Debt / EBITDA = 2.90 (negative EBITDA) (Net Debt -528.9m / EBITDA -182.1m)
 Debt / FCF = 2.88 (negative FCF - burning cash) (Net Debt -528.9m / FCF TTM -183.3m)
 Total Stockholder Equity = 325.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -42.11% (Net Income -183.6m / Total Assets 583.5m)
RoE = -10.94% (Net Income TTM -183.6m / Total Stockholder Equity 1.68b)
RoCE = -11.34% (EBIT -191.1m / Capital Employed (Equity 1.68b + L.T.Debt 7.39m))
 RoIC = -28.29% (negative operating profit) (NOPAT -151.0m / Invested Capital 533.6m)
 WACC = 13.62% (E(1.24b)/V(1.25b) * Re(13.79%) + D(15.7m)/V(1.25b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 13.79% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 86.67 | Cagr: 30.68%
 [DCF] Fair Price = unknown (Cash Flow -183.3m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.26 | # QB: 1
Revenue Correlation: 1.72 | Revenue CAGR: 0.78% | SUE: 1.31 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.30 | Chg30d=+7.28% | Revisions=+33% | Analysts=11
EPS next Quarter (2026-09-30): EPS=-0.32 | Chg30d=+5.09% | Revisions=+50% | Analysts=11
EPS current Year (2026-12-31): EPS=-0.88 | Chg30d=+33.19% | Revisions=+69% | GrowthEPS=+27.7% | GrowthRev=+34.0%
EPS next Year (2027-12-31): EPS=-1.11 | Chg30d=+17.25% | Revisions=+29% | GrowthEPS=-26.6% | GrowthRev=-10.0%
[Analyst] Revisions Ratio: +69%