Zurcher Kantonalbank Zurich Cantonalbank Has $339,000 Stock Holdings in WAVE Life Sciences Ltd. (NASDAQ:WVE)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) by 16.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,974 shares of the company’s stock after buying an additional 6,015 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WAVE Life Sciences were worth $339,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in WAVE Life Sciences during the fourth quarter worth about $40,000. Quarry LP acquired a new stake in WAVE Life Sciences during the fourth quarter worth about $62,000. Summit Investment Advisors Inc. grew its position in WAVE Life Sciences by 31.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,642 shares of the company’s stock worth $119,000 after buying an additional 2,308 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in WAVE Life Sciences during the fourth quarter worth about $129,000. Finally, Rafferty Asset Management LLC acquired a new stake in WAVE Life Sciences during the fourth quarter worth about $154,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen cut shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, May 9th. Citigroup assumed coverage on shares of WAVE Life Sciences in a research note on Wednesday, July 16th. They set a “buy” rating and a $16.00 price target for the company. Wells Fargo & Company cut their price target on shares of WAVE Life Sciences from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Canaccord Genuity Group assumed coverage on shares of WAVE Life Sciences in a research note on Monday, August 4th. They set a “buy” rating and a $19.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $18.00 price target on shares of WAVE Life Sciences in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.27.

Insider Activity at WAVE Life Sciences

In other WAVE Life Sciences news, Director Gregory L. Verdine sold 30,000 shares of WAVE Life Sciences stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.95, for a total transaction of $208,500.00. Following the completion of the sale, the director owned 282,517 shares of the company’s stock, valued at approximately $1,963,493.15. The trade was a 9.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ken Takanashi sold 4,872 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total transaction of $42,630.00. Following the completion of the transaction, the director directly owned 5,716,303 shares of the company’s stock, valued at $50,017,651.25. This trade represents a 0.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.98% of the company’s stock.

WAVE Life Sciences Trading Down 0.5%

NASDAQ:WVE opened at $8.09 on Friday. WAVE Life Sciences Ltd. has a 1 year low of $5.04 and a 1 year high of $16.74. The firm has a 50 day moving average of $7.46 and a 200-day moving average of $8.22. The stock has a market capitalization of $1.29 billion, a P/E ratio of -8.99 and a beta of -0.95.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). The firm had revenue of $8.70 million for the quarter, compared to the consensus estimate of $11.52 million. As a group, analysts forecast that WAVE Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

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.