LENZ Therapeutics, Inc. $LENZ Shares Purchased by C WorldWide Group Holding A S

C WorldWide Group Holding A S raised its stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 40.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 700,000 shares of the company’s stock after buying an additional 200,000 shares during the period. C WorldWide Group Holding A S owned approximately 2.23% of LENZ Therapeutics worth $6,405,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UBS Group AG grew its holdings in shares of LENZ Therapeutics by 30.8% in the 4th quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock worth $25,148,000 after acquiring an additional 370,122 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of LENZ Therapeutics by 108.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after purchasing an additional 585,000 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of LENZ Therapeutics by 86.7% during the fourth quarter. Franklin Resources Inc. now owns 1,096,334 shares of the company’s stock valued at $17,541,000 after purchasing an additional 509,250 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of LENZ Therapeutics by 307.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company’s stock valued at $16,378,000 after purchasing an additional 772,411 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of LENZ Therapeutics in the 4th quarter valued at $8,630,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LENZ shares. Weiss Ratings raised LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Piper Sandler cut shares of LENZ Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $39.00 to $12.00 in a report on Tuesday, May 12th. Citigroup dropped their target price on shares of LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Bank of America cut their price target on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Wall Street Zen lowered shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LENZ Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $29.80.

LENZ Therapeutics Stock Performance

LENZ stock opened at $4.88 on Friday. The stock has a market cap of $152.99 million, a P/E ratio of -1.36 and a beta of 0.62. The firm has a 50 day simple moving average of $6.65 and a 200 day simple moving average of $10.73. LENZ Therapeutics, Inc. has a 52 week low of $4.68 and a 52 week high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.22). The company had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.76 million. LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. Sell-side analysts predict that LENZ Therapeutics, Inc. will post -4.63 EPS for the current year.

LENZ Therapeutics 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.