Intrinsic value of WAVE Life Sciences Ltd. - WVE

Previous Close

$41.95

  Intrinsic Value

$0.54

stock screener

  Rating & Target

str. sell

-99%

Previous close

$41.95

 
Intrinsic value

$0.54

 
Up/down potential

-99%

 
Rating

str. sell

We calculate the intrinsic value of WVE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  22
  35
  52
  75
  106
  146
  196
  257
  330
  417
  518
  633
  764
  908
  1,068
  1,243
  1,431
  1,634
  1,851
  2,081
  2,324
  2,580
  2,849
  3,130
  3,424
  3,730
  4,049
  4,381
  4,727
  5,085
Variable operating expenses, $m
  150
  232
  347
  504
  711
  978
  1,313
  1,724
  2,218
  2,801
  3,479
  4,253
  5,126
  6,099
  7,172
  8,342
  9,610
  10,972
  12,426
  13,970
  15,603
  17,322
  19,127
  21,015
  22,988
  25,045
  27,187
  29,416
  31,734
  34,143
Fixed operating expenses, $m
  84
  86
  88
  89
  91
  93
  95
  98
  100
  102
  104
  106
  109
  111
  114
  116
  119
  121
  124
  127
  130
  132
  135
  138
  141
  144
  148
  151
  154
  158
Total operating expenses, $m
  234
  318
  435
  593
  802
  1,071
  1,408
  1,822
  2,318
  2,903
  3,583
  4,359
  5,235
  6,210
  7,286
  8,458
  9,729
  11,093
  12,550
  14,097
  15,733
  17,454
  19,262
  21,153
  23,129
  25,189
  27,335
  29,567
  31,888
  34,301
Operating income, $m
  -212
  -283
  -383
  -519
  -697
  -926
  -1,213
  -1,564
  -1,987
  -2,486
  -3,065
  -3,726
  -4,472
  -5,302
  -6,217
  -7,216
  -8,297
  -9,459
  -10,699
  -12,016
  -13,409
  -14,875
  -16,413
  -18,023
  -19,705
  -21,459
  -23,286
  -25,186
  -27,161
  -29,215
EBITDA, $m
  -203
  -270
  -363
  -488
  -654
  -867
  -1,134
  -1,462
  -1,855
  -2,319
  -2,857
  -3,472
  -4,166
  -4,938
  -5,790
  -6,719
  -7,724
  -8,805
  -9,958
  -11,183
  -12,478
  -13,842
  -15,273
  -16,770
  -18,335
  -19,966
  -21,664
  -23,432
  -25,269
  -27,179
Interest expense (income), $m
  0
  0
  7
  18
  32
  52
  78
  112
  155
  207
  270
  344
  431
  529
  640
  764
  901
  1,050
  1,211
  1,384
  1,569
  1,766
  1,973
  2,192
  2,422
  2,662
  2,913
  3,175
  3,448
  3,731
  4,026
Earnings before tax, $m
  -212
  -291
  -401
  -551
  -749
  -1,004
  -1,325
  -1,720
  -2,195
  -2,756
  -3,409
  -4,157
  -5,001
  -5,942
  -6,981
  -8,117
  -9,347
  -10,670
  -12,083
  -13,586
  -15,174
  -16,848
  -18,605
  -20,445
  -22,368
  -24,372
  -26,461
  -28,633
  -30,893
  -33,241
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -212
  -291
  -401
  -551
  -749
  -1,004
  -1,325
  -1,720
  -2,195
  -2,756
  -3,409
  -4,157
  -5,001
  -5,942
  -6,981
  -8,117
  -9,347
  -10,670
  -12,083
  -13,586
  -15,174
  -16,848
  -18,605
  -20,445
  -22,368
  -24,372
  -26,461
  -28,633
  -30,893
  -33,241

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  400
  618
  924
  1,341
  1,892
  2,601
  3,491
  4,584
  5,899
  7,451
  9,252
  11,312
  13,634
  16,222
  19,074
  22,188
  25,559
  29,181
  33,049
  37,157
  41,499
  46,072
  50,871
  55,894
  61,141
  66,612
  72,310
  78,238
  84,402
  90,809
Adjusted assets (=assets-cash), $m
  400
  618
  924
  1,341
  1,892
  2,601
  3,491
  4,584
  5,899
  7,451
  9,252
  11,312
  13,634
  16,222
  19,074
  22,188
  25,559
  29,181
  33,049
  37,157
  41,499
  46,072
  50,871
  55,894
  61,141
  66,612
  72,310
  78,238
  84,402
  90,809
Revenue / Adjusted assets
  0.055
  0.057
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
  0.056
Average production assets, $m
  54
  83
  124
  180
  254
  350
  470
  617
  793
  1,002
  1,245
  1,522
  1,834
  2,182
  2,566
  2,985
  3,438
  3,925
  4,446
  4,998
  5,582
  6,197
  6,843
  7,518
  8,224
  8,960
  9,727
  10,524
  11,353
  12,215
Working capital, $m
  -164
  -254
  -379
  -550
  -776
  -1,067
  -1,433
  -1,881
  -2,421
  -3,058
  -3,797
  -4,642
  -5,595
  -6,657
  -7,828
  -9,105
  -10,489
  -11,975
  -13,562
  -15,248
  -17,030
  -18,906
  -20,876
  -22,937
  -25,090
  -27,336
  -29,674
  -32,106
  -34,636
  -37,265
Total debt, $m
  132
  325
  596
  966
  1,454
  2,082
  2,871
  3,839
  5,004
  6,379
  7,975
  9,800
  11,857
  14,150
  16,677
  19,436
  22,423
  25,632
  29,059
  32,699
  36,546
  40,597
  44,849
  49,300
  53,948
  58,796
  63,844
  69,096
  74,558
  80,234
Total liabilities, $m
  354
  548
  819
  1,188
  1,676
  2,304
  3,093
  4,062
  5,226
  6,601
  8,197
  10,022
  12,080
  14,373
  16,900
  19,659
  22,645
  25,854
  29,282
  32,921
  36,769
  40,820
  45,072
  49,522
  54,171
  59,018
  64,067
  69,319
  74,780
  80,456
Total equity, $m
  46
  70
  105
  153
  216
  297
  398
  523
  672
  849
  1,055
  1,290
  1,554
  1,849
  2,174
  2,529
  2,914
  3,327
  3,768
  4,236
  4,731
  5,252
  5,799
  6,372
  6,970
  7,594
  8,243
  8,919
  9,622
  10,352
Total liabilities and equity, $m
  400
  618
  924
  1,341
  1,892
  2,601
  3,491
  4,585
  5,898
  7,450
  9,252
  11,312
  13,634
  16,222
  19,074
  22,188
  25,559
  29,181
  33,050
  37,157
  41,500
  46,072
  50,871
  55,894
  61,141
  66,612
  72,310
  78,238
  84,402
  90,808
Debt-to-equity ratio
  2.890
  4.610
  5.660
  6.320
  6.740
  7.020
  7.210
  7.350
  7.440
  7.510
  7.560
  7.600
  7.630
  7.650
  7.670
  7.680
  7.700
  7.710
  7.710
  7.720
  7.720
  7.730
  7.730
  7.740
  7.740
  7.740
  7.740
  7.750
  7.750
  7.750
Adjusted equity ratio
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114
  0.114

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -212
  -291
  -401
  -551
  -749
  -1,004
  -1,325
  -1,720
  -2,195
  -2,756
  -3,409
  -4,157
  -5,001
  -5,942
  -6,981
  -8,117
  -9,347
  -10,670
  -12,083
  -13,586
  -15,174
  -16,848
  -18,605
  -20,445
  -22,368
  -24,372
  -26,461
  -28,633
  -30,893
  -33,241
Depreciation, amort., depletion, $m
  9
  14
  21
  30
  42
  58
  78
  103
  132
  167
  207
  254
  306
  364
  428
  497
  573
  654
  741
  833
  930
  1,033
  1,140
  1,253
  1,371
  1,493
  1,621
  1,754
  1,892
  2,036
Funds from operations, $m
  -203
  -277
  -380
  -521
  -707
  -946
  -1,247
  -1,617
  -2,062
  -2,589
  -3,202
  -3,903
  -4,695
  -5,579
  -6,554
  -7,619
  -8,774
  -10,015
  -11,342
  -12,753
  -14,244
  -15,815
  -17,465
  -19,192
  -20,997
  -22,879
  -24,839
  -26,879
  -29,000
  -31,205
Change in working capital, $m
  -62
  -89
  -126
  -171
  -226
  -291
  -365
  -449
  -539
  -637
  -739
  -845
  -953
  -1,062
  -1,170
  -1,278
  -1,383
  -1,486
  -1,587
  -1,686
  -1,782
  -1,876
  -1,969
  -2,061
  -2,153
  -2,245
  -2,338
  -2,433
  -2,529
  -2,629
Cash from operations, $m
  -141
  -187
  -254
  -350
  -480
  -655
  -881
  -1,168
  -1,523
  -1,952
  -2,463
  -3,058
  -3,742
  -4,517
  -5,383
  -6,341
  -7,390
  -8,529
  -9,755
  -11,067
  -12,462
  -13,939
  -15,496
  -17,131
  -18,844
  -20,634
  -22,501
  -24,447
  -26,471
  -28,576
Maintenance CAPEX, $m
  -6
  -9
  -14
  -21
  -30
  -42
  -58
  -78
  -103
  -132
  -167
  -207
  -254
  -306
  -364
  -428
  -497
  -573
  -654
  -741
  -833
  -930
  -1,033
  -1,140
  -1,253
  -1,371
  -1,493
  -1,621
  -1,754
  -1,892
New CAPEX, $m
  -20
  -29
  -41
  -56
  -74
  -95
  -120
  -147
  -177
  -209
  -242
  -277
  -312
  -348
  -384
  -419
  -453
  -487
  -520
  -553
  -584
  -615
  -646
  -676
  -706
  -736
  -766
  -797
  -829
  -862
Cash from investing activities, $m
  -26
  -38
  -55
  -77
  -104
  -137
  -178
  -225
  -280
  -341
  -409
  -484
  -566
  -654
  -748
  -847
  -950
  -1,060
  -1,174
  -1,294
  -1,417
  -1,545
  -1,679
  -1,816
  -1,959
  -2,107
  -2,259
  -2,418
  -2,583
  -2,754
Free cash flow, $m
  -167
  -225
  -309
  -426
  -585
  -793
  -1,060
  -1,393
  -1,802
  -2,293
  -2,872
  -3,542
  -4,308
  -5,170
  -6,131
  -7,188
  -8,341
  -9,589
  -10,930
  -12,360
  -13,879
  -15,484
  -17,174
  -18,947
  -20,803
  -22,741
  -24,761
  -26,865
  -29,054
  -31,330
Issuance/(repayment) of debt, $m
  132
  193
  271
  369
  488
  628
  789
  968
  1,165
  1,375
  1,596
  1,825
  2,058
  2,293
  2,527
  2,759
  2,986
  3,209
  3,427
  3,640
  3,847
  4,051
  4,252
  4,451
  4,649
  4,847
  5,048
  5,252
  5,461
  5,676
Issuance/(repurchase) of shares, $m
  229
  315
  436
  598
  812
  1,085
  1,427
  1,844
  2,344
  2,933
  3,615
  4,391
  5,266
  6,237
  7,306
  8,472
  9,731
  11,083
  12,524
  14,054
  15,669
  17,369
  19,152
  21,018
  22,966
  24,996
  27,110
  29,309
  31,595
  33,971
Cash from financing (excl. dividends), $m  
  361
  508
  707
  967
  1,300
  1,713
  2,216
  2,812
  3,509
  4,308
  5,211
  6,216
  7,324
  8,530
  9,833
  11,231
  12,717
  14,292
  15,951
  17,694
  19,516
  21,420
  23,404
  25,469
  27,615
  29,843
  32,158
  34,561
  37,056
  39,647
Total cash flow (excl. dividends), $m
  193
  283
  398
  541
  715
  921
  1,156
  1,419
  1,707
  2,015
  2,339
  2,674
  3,015
  3,360
  3,703
  4,042
  4,376
  4,703
  5,022
  5,333
  5,638
  5,936
  6,230
  6,522
  6,812
  7,103
  7,397
  7,696
  8,002
  8,318
Retained Cash Flow (-), $m
  -229
  -315
  -436
  -598
  -812
  -1,085
  -1,427
  -1,844
  -2,344
  -2,933
  -3,615
  -4,391
  -5,266
  -6,237
  -7,306
  -8,472
  -9,731
  -11,083
  -12,524
  -14,054
  -15,669
  -17,369
  -19,152
  -21,018
  -22,966
  -24,996
  -27,110
  -29,309
  -31,595
  -33,971
Prev. year cash balance distribution, $m
  45
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  10
  -32
  -38
  -57
  -96
  -165
  -271
  -425
  -638
  -918
  -1,276
  -1,718
  -2,250
  -2,878
  -3,603
  -4,429
  -5,355
  -6,380
  -7,503
  -8,721
  -10,032
  -11,433
  -12,922
  -14,496
  -16,154
  -17,893
  -19,713
  -21,613
  -23,593
  -25,654
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  9
  -30
  -33
  -47
  -75
  -119
  -183
  -266
  -366
  -481
  -606
  -733
  -856
  -966
  -1,058
  -1,126
  -1,165
  -1,175
  -1,155
  -1,108
  -1,038
  -949
  -847
  -738
  -628
  -522
  -423
  -334
  -258
  -193
Current shareholders' claim on cash, %
  55.5
  32.8
  20.3
  12.9
  8.4
  5.6
  3.8
  2.6
  1.8
  1.2
  0.9
  0.6
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins. The nucleic acid therapeutics, which the Company is developing are stereopure. A stereopure oligonucleotide includes molecules with atoms arranged in three-dimensional orientations at each linkage. The Company has three programs in Huntington's disease (HD) and Duchenne Muscular Dystrophy (DMD), and three additional development candidates.

FINANCIAL RATIOS  of  WAVE Life Sciences Ltd. (WVE)

Valuation Ratios
P/E Ratio -17.9
Price to Sales 985.8
Price to Book 6.9
Price to Tangible Book
Price to Cash Flow -30.8
Price to Free Cash Flow -25.9
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 200%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -33.3%
Ret/ On Assets - 3 Yr. Avg. -85.3%
Return On Total Capital -36.2%
Ret/ On T. Cap. - 3 Yr. Avg. -103.2%
Return On Equity -36.2%
Return On Equity - 3 Yr. Avg. 35.7%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -5400%
EBITDA Margin - 3 Yr. Avg. -1800%
Operating Margin -5600%
Oper. Margin - 3 Yr. Avg. -1866.7%
Pre-Tax Margin -5500%
Pre-Tax Margin - 3 Yr. Avg. -1833.3%
Net Profit Margin -5500%
Net Profit Margin - 3 Yr. Avg. -1833.3%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

WVE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WVE stock intrinsic value calculation we used $14 million for the last fiscal year's total revenue generated by WAVE Life Sciences Ltd.. The default revenue input number comes from 0001 income statement of WAVE Life Sciences Ltd.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our WVE stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for WVE is calculated based on our internal credit rating of WAVE Life Sciences Ltd., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of WAVE Life Sciences Ltd..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of WVE stock the variable cost ratio is equal to 671.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $82 million in the base year in the intrinsic value calculation for WVE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for WAVE Life Sciences Ltd..

Corporate tax rate of 27% is the nominal tax rate for WAVE Life Sciences Ltd.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the WVE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for WVE are equal to 240.2%.

Life of production assets of 6 years is the average useful life of capital assets used in WAVE Life Sciences Ltd. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for WVE is equal to -732.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $73.348 million for WAVE Life Sciences Ltd. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.113 million for WAVE Life Sciences Ltd. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of WAVE Life Sciences Ltd. at the current share price and the inputted number of shares is $1.4 billion.

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