Granahan Investment Management LLC Buys Shares of 51,842 LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Granahan Investment Management LLC purchased a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,842 shares of the company’s stock, valued at approximately $1,497,000. Granahan Investment Management LLC owned about 0.19% of LENZ Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of LENZ. Deutsche Bank AG grew its holdings in LENZ Therapeutics by 81.6% in the fourth quarter. Deutsche Bank AG now owns 9,723 shares of the company’s stock worth $281,000 after purchasing an additional 4,370 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in LENZ Therapeutics in the fourth quarter valued at about $215,000. Bank of America Corp DE boosted its holdings in LENZ Therapeutics by 92.7% in the fourth quarter. Bank of America Corp DE now owns 38,246 shares of the company’s stock worth $1,104,000 after acquiring an additional 18,395 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of LENZ Therapeutics by 16.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company’s stock valued at $4,103,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of LENZ Therapeutics by 7.4% in the 4th quarter. Northern Trust Corp now owns 139,288 shares of the company’s stock valued at $4,021,000 after purchasing an additional 9,649 shares during the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

Wall Street Analysts Forecast Growth

LENZ has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They issued a “buy” rating and a $60.00 price target for the company. Piper Sandler began coverage on LENZ Therapeutics in a research note on Monday, April 14th. They issued an “overweight” rating and a $51.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday. Finally, Citigroup raised their price objective on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $46.60.

LENZ Therapeutics Trading Up 1.8 %

Shares of NASDAQ:LENZ opened at $26.34 on Friday. The company has a market capitalization of $741.37 million, a PE ratio of -14.88 and a beta of 0.41. LENZ Therapeutics, Inc. has a 12-month low of $14.42 and a 12-month high of $38.93. The business has a 50 day moving average of $24.56 and a two-hundred day moving average of $27.29.

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