Sovran Advisors LLC Has $4.98 Million Stock Holdings in LENZ Therapeutics, Inc. $LENZ

Sovran Advisors LLC lifted its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 164.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,920 shares of the company’s stock after purchasing an additional 66,497 shares during the quarter. Sovran Advisors LLC owned 0.37% of LENZ Therapeutics worth $4,980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC grew its stake in LENZ Therapeutics by 4.3% during the second quarter. Intech Investment Management LLC now owns 9,251 shares of the company’s stock worth $271,000 after buying an additional 380 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of LENZ Therapeutics by 51.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after acquiring an additional 477 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of LENZ Therapeutics by 47.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock worth $53,000 after acquiring an additional 586 shares during the period. Bfsg LLC acquired a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $30,000. Finally, BNP Paribas Financial Markets increased its stake in LENZ Therapeutics by 93.7% in the second quarter. BNP Paribas Financial Markets now owns 1,951 shares of the company’s stock valued at $57,000 after acquiring an additional 944 shares during the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

Insider Buying and Selling

In related news, Director James W. Mccollum acquired 10,500 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $22.79 per share, for a total transaction of $239,295.00. Following the completion of the transaction, the director directly owned 10,500 shares of the company’s stock, valued at $239,295. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Olsson sold 10,000 shares of LENZ Therapeutics stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $26.10, for a total value of $261,000.00. Following the completion of the transaction, the insider directly owned 4,733 shares in the company, valued at approximately $123,531.30. This represents a 67.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on LENZ. Piper Sandler upped their target price on LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Raymond James Financial reiterated 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 Thursday. Zacks Research lowered shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, HC Wainwright reissued a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

LENZ Therapeutics Price Performance

NASDAQ:LENZ opened at $20.44 on Monday. LENZ Therapeutics, Inc. has a one year low of $14.43 and a one year high of $50.40. The company has a market cap of $639.57 million, a PE ratio of -9.69 and a beta of 0.50. The firm’s 50 day simple moving average is $21.42 and its 200 day simple moving average is $31.07.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.08. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $4.64 million. Equities research analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS 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.