Zurcher Kantonalbank Zurich Cantonalbank Purchases 14,371 Shares of Wave Life Sciences Ltd. (NASDAQ:WVE)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Wave Life Sciences Ltd. (NASDAQ:WVE) by 75.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,491 shares of the company’s stock after purchasing an additional 14,371 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wave Life Sciences were worth $167,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Artal Group S.A. raised its position in Wave Life Sciences by 34.7% in the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after purchasing an additional 1,044,000 shares during the period. Ikarian Capital LLC purchased a new position in shares of Wave Life Sciences in the first quarter worth about $3,641,000. Vanguard Group Inc. lifted its stake in shares of Wave Life Sciences by 39.7% in the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares during the last quarter. M28 Capital Management LP boosted its holdings in Wave Life Sciences by 4.7% during the 4th quarter. M28 Capital Management LP now owns 7,373,413 shares of the company’s stock valued at $37,236,000 after acquiring an additional 328,913 shares during the period. Finally, Affinity Asset Advisors LLC bought a new position in Wave Life Sciences during the 1st quarter worth approximately $1,768,000. 89.73% of the stock is owned by hedge funds and other institutional investors.

Wave Life Sciences Trading Up 16.6 %

Shares of WVE stock opened at $5.98 on Tuesday. The company’s fifty day moving average price is $5.76 and its 200-day moving average price is $5.74. The stock has a market cap of $745.95 million, a PE ratio of -11.50 and a beta of -1.13. Wave Life Sciences Ltd. has a 12 month low of $3.50 and a 12 month high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The business had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. During the same period in the previous year, the firm earned ($0.20) EPS. On average, sell-side analysts forecast that Wave Life Sciences Ltd. will post -1.05 earnings per share for the current fiscal year.

Insider Activity at Wave Life Sciences

In related news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WVE shares. JPMorgan Chase & Co. started coverage on shares of Wave Life Sciences in a report on Monday. They issued an “overweight” rating and a $10.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of Wave Life Sciences in a report on Wednesday, May 15th. They issued an “overweight” rating and a $11.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Wave Life Sciences in a research note on Wednesday, June 26th. Finally, Mizuho reissued an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.71.

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.