Wave Life Sciences (WVE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Wave Life Sciences

NasdaqGM•Healthcare•Biotechnology

$4.59-0.08(-0.02%)Market closed

Market Cap

$905.80M

P/S

13.9x

P/B

2.0x

Wave Life Sciences, Inc., a clinical-stage biotechnology company, focuses on unlocking the potential of ribonucleic acid (RNA) medicines to transform human health. Its RNA medicines platform, PRISM, combines RNA medicine modalities, chemistry innovation, and deep insights in human genetics to deliver scientific breakthroughs that treat rare and common disorders. Its pipeline focuses on obesity (WVE-007), alpha-1 antitrypsin deficiency (AATD) (WVE-006), and PNPLA3 I148M liver disease (WVE-008) programs; and clinical programs for Duchenne muscular dystrophy and Huntington's disease, as well as various preclinical programs utilizing its RNA medicines platform. Wave Life Sciences, Inc. was founded in 2012 and is headquartered in Cambridge, Massachusetts.

How this company scores

WeakMetricSide Score: 32/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Growth (3/25).

Profitability6/25

Growth3/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality8/25

Strengths

Interest easily coveredNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 13.9x5y range 2.8x – 151.3x

Currently near its 20-quarter median.

P/B · 2.0x5y range 2.0x – 32.1x

Currently below its 13-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $905.80M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $65.37M
Q. Revenue: $2.27M
TTM EBITDA: $-208.75M
TTM Op. Income: $-217.92M
Q. Op. Income: $-73.80M
TTM Net Income: $-202.47M
Q. Net Income: $-69.36M
EPS: $-0.34
Shares Out.: $204.01M

$65.37M in TTM revenue declined 30.4% YoY, reaching $2.27M last quarter. TTM EBITDA of $-208.75M and TTM operating income of $-217.92M show growth is flowing through to the bottom line. However, net income is negative at $202.47M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is down 30% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -3144.1%
Op. Margin: -3248.3%
Net Margin: -3052.6%

Op. margin of -3248.3% is down 2641.8% YoY — costs are rising relative to revenue. Net margin at -3052.6% Over the past year, operating margin is down 436% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 13.9x
P/B Ratio: 2.0x

P/S of 13.9x and P/B of 2.0x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $558.32M
Cash: $368.01M
Long-Term Debt: N/A
Book Value: $453.52M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-53.58M
TTM Free Cash Flow: $-193.15M
FCF Margin: -295.5%
FCF / Net Income: 1.0

TTM FCF of $-193.15M on $-53.58M in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 3% — a weakening trend.