Samsara BioCapital LLC Reduces Stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Samsara BioCapital LLC trimmed its holdings in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 18.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 986,981 shares of the company’s stock after selling 221,492 shares during the period. LENZ Therapeutics comprises about 3.9% of Samsara BioCapital LLC’s portfolio, making the stock its 7th largest holding. Samsara BioCapital LLC’s holdings in LENZ Therapeutics were worth $28,494,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in LENZ Therapeutics during the 3rd quarter worth approximately $286,000. Barclays PLC boosted its holdings in shares of LENZ Therapeutics by 273.1% during the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock valued at $391,000 after purchasing an additional 12,051 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in LENZ Therapeutics during the fourth quarter valued at approximately $1,270,000. SG Americas Securities LLC grew its holdings in shares of LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock valued at $158,000 after purchasing an additional 935 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in LENZ Therapeutics during the fourth quarter valued at $168,000. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Price Performance

LENZ opened at $26.63 on Wednesday. LENZ Therapeutics, Inc. has a 1-year low of $14.42 and a 1-year high of $38.93. The company’s 50 day simple moving average is $23.69 and its two-hundred day simple moving average is $27.23. The firm has a market capitalization of $733.47 million, a price-to-earnings ratio of -5.58 and a beta of 0.43.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, equities analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Wednesday, April 16th. Citigroup raised their price target on 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 assumed coverage on LENZ Therapeutics in a research note on Tuesday, March 18th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Piper Sandler began coverage on LENZ Therapeutics in a report on Monday, April 14th. They set an “overweight” rating and a $51.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, LENZ Therapeutics currently has an average rating of “Buy” and a consensus price target of $46.60.

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.