Virtus Investment Advisers LLC Reduces Holdings in LENZ Therapeutics, Inc. $LENZ

Virtus Investment Advisers LLC lowered its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 40.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,179 shares of the company’s stock after selling 2,155 shares during the quarter. Virtus Investment Advisers LLC’s holdings in LENZ Therapeutics were worth $93,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Paradigm Biocapital Advisors LP increased its position in shares of LENZ Therapeutics by 96.2% during the first quarter. Paradigm Biocapital Advisors LP now owns 1,511,932 shares of the company’s stock worth $38,872,000 after acquiring an additional 741,477 shares during the last quarter. Vanguard Group Inc. increased its holdings in LENZ Therapeutics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 1,199,462 shares of the company’s stock worth $30,838,000 after purchasing an additional 21,015 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in LENZ Therapeutics during the 1st quarter worth approximately $13,825,000. Geode Capital Management LLC raised its position in shares of LENZ Therapeutics by 15.5% in the 2nd quarter. Geode Capital Management LLC now owns 416,122 shares of the company’s stock valued at $12,198,000 after purchasing an additional 55,730 shares in the last quarter. Finally, Granahan Investment Management LLC boosted its stake in shares of LENZ Therapeutics by 239.8% during the 1st quarter. Granahan Investment Management LLC now owns 176,166 shares of the company’s stock valued at $4,529,000 after buying an additional 124,324 shares during the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LENZ Therapeutics

In other LENZ Therapeutics news, CFO Daniel R. Chevallard purchased 2,198 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $22.76 per share, with a total value of $50,026.48. Following the completion of the purchase, the chief financial officer owned 5,386 shares in the company, valued at $122,585.36. This trade represents a 68.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James W. Mccollum acquired 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $22.79 per share, for a total transaction of $239,295.00. Following the completion of the purchase, the director owned 10,500 shares of the company’s stock, valued at approximately $239,295. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by company insiders.

Analyst Ratings Changes

LENZ has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on shares of LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Raymond James Financial reissued an “outperform” rating and issued a $50.00 target price (up previously from $40.00) on shares of LENZ Therapeutics in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. Zacks Research downgraded LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, HC Wainwright restated a “buy” rating and set a $56.00 price objective on shares of LENZ Therapeutics in a research note on Monday, October 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

LENZ Therapeutics Stock Performance

NASDAQ LENZ opened at $30.52 on Monday. LENZ Therapeutics, Inc. has a one year low of $16.53 and a one year high of $50.40. The company has a 50-day simple moving average of $34.58 and a 200-day simple moving average of $33.97. The firm has a market capitalization of $954.81 million, a PE ratio of -14.46 and a beta of 0.46.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.08. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $4.64 million. Equities analysts forecast that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

LENZ Therapeutics Company Profile

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.