Wave Life Sciences Ltd. (NASDAQ:WVE) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in shares of Wave Life Sciences Ltd. (NASDAQ:WVE - Free Report) by 33.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,800 shares of the company's stock after purchasing an additional 52,300 shares during the period. Swiss National Bank owned about 0.14% of Wave Life Sciences worth $2,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Wave Life Sciences by 19.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,871 shares of the company's stock valued at $4,798,000 after purchasing an additional 62,862 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Wave Life Sciences in the fourth quarter valued at approximately $157,000. Arizona State Retirement System raised its holdings in Wave Life Sciences by 34.2% in the fourth quarter. Arizona State Retirement System now owns 30,769 shares of the company's stock valued at $381,000 after acquiring an additional 7,846 shares in the last quarter. Aigen Investment Management LP acquired a new position in Wave Life Sciences during the 4th quarter worth approximately $270,000. Finally, Victory Capital Management Inc. increased its position in shares of Wave Life Sciences by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 14,546 shares of the company's stock valued at $180,000 after purchasing an additional 2,073 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on WVE shares. StockNews.com raised Wave Life Sciences from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. HC Wainwright reissued a "buy" rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group initiated coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a "buy" rating and a $26.00 target price for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wave Life Sciences currently has an average rating of "Moderate Buy" and an average target price of $22.60.

Wave Life Sciences Stock Down 6.0 %

NASDAQ:WVE traded down $0.51 during trading hours on Monday, reaching $8.11. 162,785 shares of the company's stock were exchanged, compared to its average volume of 1,122,255. Wave Life Sciences Ltd. has a 1-year low of $4.25 and a 1-year high of $16.74. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -7.30 and a beta of -1.04. The company has a 50-day moving average of $10.73 and a 200 day moving average of $11.73.

Wave Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.34. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. Research analysts forecast that Wave Life Sciences Ltd. will post -1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christian O. Henry sold 10,500 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.77, for a total transaction of $102,585.00. Following the sale, the director now owns 16,115 shares of the company's stock, valued at approximately $157,443.55. The trade was a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Bolno sold 169,025 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $9.57, for a total transaction of $1,617,569.25. Following the transaction, the chief executive officer now owns 338,351 shares in the company, valued at $3,238,019.07. The trade was a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by insiders.

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.