Granahan Investment Management LLC Invests $1.50 Million in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Granahan Investment Management LLC acquired a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 51,842 shares of the company’s stock, valued at approximately $1,497,000.

A number of other hedge funds also recently bought and sold shares of LENZ. Jane Street Group LLC acquired a new stake in shares of LENZ Therapeutics in the third quarter valued at approximately $286,000. Barclays PLC increased its stake in shares of LENZ Therapeutics by 273.1% in the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock worth $391,000 after acquiring an additional 12,051 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of LENZ Therapeutics during the 4th quarter worth $1,270,000. SG Americas Securities LLC boosted its position in shares of LENZ Therapeutics by 20.7% during the 4th quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock valued at $158,000 after acquiring an additional 935 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in LENZ Therapeutics during the fourth quarter worth about $168,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LENZ. Citigroup increased their price target on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. TD Cowen began coverage on LENZ Therapeutics in a research report on Tuesday, March 18th. They issued a “buy” rating and a $60.00 target price on the stock. Piper Sandler started coverage on LENZ Therapeutics in a report on Monday, April 14th. They set an “overweight” rating and a $51.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of LENZ Therapeutics in a report on Thursday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, LENZ Therapeutics currently has an average rating of “Buy” and an average price target of $46.60.

LENZ Therapeutics Price Performance

Shares of LENZ Therapeutics stock opened at $26.34 on Friday. The stock has a market capitalization of $741.37 million, a price-to-earnings ratio of -14.88 and a beta of 0.41. The business has a 50-day moving average of $24.56 and a 200 day moving average of $27.29. LENZ Therapeutics, Inc. has a 12 month low of $14.42 and a 12 month high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.02. Equities research analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

About LENZ Therapeutics

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.