Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Wave Life Sciences Ltd. (NASDAQ:WVE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Wave Life Sciences Ltd. (NASDAQ:WVE) by 1,512.5% in the fourth quarter, Holdings Channel reports. The fund owned 32,250 shares of the company’s stock after buying 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 SEC filing.

Several other large investors also recently bought and sold shares of the company. TD Asset Management Inc acquired a new stake in Wave Life Sciences during the 3rd quarter valued at approximately $935,000. Strs Ohio acquired a new stake in Wave Life Sciences in the fourth quarter valued at $382,000. Kraematon Investment Advisors Inc. bought a new position in Wave Life Sciences during the 4th quarter valued at $237,000. Laurion Capital Management LP grew its holdings in Wave Life Sciences by 5.1% during the 3rd quarter. Laurion Capital Management LP now owns 871,500 shares of the company’s stock worth $5,011,000 after acquiring an additional 42,662 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Wave Life Sciences in the 3rd quarter worth about $149,000. Institutional investors and hedge funds own 89.73% of the company’s stock.

Insider Buying and Selling at Wave Life Sciences

In related 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 value of $96,437.10. Following the completion of the transaction, the chief financial officer now directly owns 33,921 shares of the company’s stock, valued at approximately $209,292.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 31.10% of the stock is currently owned by company insiders.

Wave Life Sciences Price Performance

NASDAQ:WVE opened at $5.85 on Thursday. The firm has a market capitalization of $715.57 million, a P/E ratio of -10.64 and a beta of -0.99. The business has a 50 day simple moving average of $5.73 and a 200 day simple moving average of $5.19. Wave Life Sciences Ltd. has a 12-month low of $3.15 and a 12-month high of $7.67.

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

Analysts Set New Price Targets

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

Wave Life Sciences Company 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.