Stock Track | Wave Life Sciences Soars 5.81% as Q4 Profits, Revenue Top Estimates

Stock Track

03-04

Wave Life Sciences (NASDAQ:WVE) stock surged 5.81% on Tuesday, outperforming the broader market, fueled by the company's impressive fourth-quarter financial results.

The biopharmaceutical company reported a surprise profit of $0.17 per diluted share for the fourth quarter, surpassing analysts' expectations of a $0.19 loss per share. This marked a significant turnaround from the $0.15 loss per share in the year-ago quarter.

Additionally, Wave Life Sciences' revenue for the quarter soared to $83.7 million, up a staggering 188% year-over-year and significantly higher than the consensus estimate of $28.04 million. The strong revenue growth was likely a key driver behind the company's ability to swing to a profit during the quarter.

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