State of Wisconsin Investment Board increased its stake in Wave Life Sciences Ltd (NASDAQ:WVE) by 100.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 18,000 shares of the company’s stock after acquiring an additional 9,000 shares during the period. State of Wisconsin Investment Board’s holdings in Wave Life Sciences were worth $688,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Wave Life Sciences during the first quarter valued at approximately $120,000. California Public Employees Retirement System bought a new position in shares of Wave Life Sciences during the first quarter valued at approximately $219,000. Goldman Sachs Group Inc. bought a new position in shares of Wave Life Sciences during the fourth quarter valued at approximately $222,000. Millennium Management LLC bought a new position in shares of Wave Life Sciences during the first quarter valued at approximately $330,000. Finally, UBS Group AG increased its stake in shares of Wave Life Sciences by 26.0% during the first quarter. UBS Group AG now owns 8,356 shares of the company’s stock valued at $335,000 after purchasing an additional 1,723 shares in the last quarter. 83.43% of the stock is owned by institutional investors.
In other news, insider Chris Francis sold 24,496 shares of the stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $37.27, for a total transaction of $912,965.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 44.20% of the company’s stock.
NASDAQ:WVE opened at $51.00 on Thursday. Wave Life Sciences Ltd has a 52 week low of $19.81 and a 52 week high of $55.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.11 and a current ratio of 6.11. The company has a market cap of $1.43 billion, a PE ratio of -13.25 and a beta of 0.69.
Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($1.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.88). Wave Life Sciences had a negative net margin of 1,473.26% and a negative return on equity of 91.88%. The firm had revenue of $4.88 million for the quarter, compared to analysts’ expectations of $7.38 million. equities analysts predict that Wave Life Sciences Ltd will post -4.99 earnings per share for the current fiscal year.
A number of brokerages have weighed in on WVE. BidaskClub downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. ValuEngine raised shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a research note on Friday, June 29th. Stifel Nicolaus began coverage on shares of Wave Life Sciences in a research note on Monday, August 6th. They set a “buy” rating and a $56.00 target price for the company. Finally, HC Wainwright set a $49.00 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $58.40.
Wave Life Sciences Company Profile
Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.
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