Zurcher Kantonalbank Zurich Cantonalbank Buys 30,250 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 1,512.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,250 shares of the company’s stock after purchasing an additional 30,250 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wave Life Sciences were worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its position in Wave Life Sciences by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock valued at $58,000 after buying an additional 8,920 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of Wave Life Sciences in the 4th quarter valued at approximately $91,000. Jump Financial LLC acquired a new stake in Wave Life Sciences in the 3rd quarter worth approximately $135,000. SG Americas Securities LLC purchased a new stake in Wave Life Sciences during the 3rd quarter worth approximately $149,000. Finally, James J. Burns & Company LLC raised its holdings in shares of Wave Life Sciences by 10.2% in the third quarter. James J. Burns & Company LLC now owns 33,049 shares of the company’s stock worth $190,000 after buying an additional 3,049 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WVE has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $5.00 price target on shares of Wave Life Sciences in a research note on Thursday, March 7th. Truist Financial reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Wave Life Sciences in a report on Monday, April 1st. HC Wainwright upped their price target on shares of Wave Life Sciences from $8.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, StockNews.com lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Wave Life Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $10.14.

Insider Activity

In other Wave Life Sciences news, CFO Kyle Moran sold 15,630 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $6.17, for a total transaction of $96,437.10. Following the completion of the transaction, the chief financial officer now owns 33,921 shares of the company’s stock, valued at $209,292.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 31.10% of the company’s stock.

Wave Life Sciences Stock Up 1.0 %

WVE stock opened at $5.85 on Thursday. The firm has a market cap of $715.57 million, a P/E ratio of -10.64 and a beta of -0.99. Wave Life Sciences Ltd. has a 52-week low of $3.15 and a 52-week high of $7.67. The company’s 50-day simple moving average is $5.73 and its 200-day simple moving average is $5.19.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The business had revenue of $29.06 million during the quarter, compared to analysts’ expectations of $23.30 million. During the same quarter last year, the firm earned ($0.47) earnings per share. On average, analysts anticipate that Wave Life Sciences Ltd. will post -0.94 earnings per share for the current fiscal year.

Wave Life Sciences Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.