Aberdeen Group plc Makes New $2.18 Million Investment in LENZ Therapeutics, Inc. $LENZ

Aberdeen Group plc acquired a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 74,286 shares of the company’s stock, valued at approximately $2,177,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of LENZ Therapeutics by 8.1% during the 1st quarter. Wellington Management Group LLP now owns 30,488 shares of the company’s stock valued at $784,000 after buying an additional 2,272 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in LENZ Therapeutics during the first quarter worth $13,825,000. Granahan Investment Management LLC lifted its holdings in LENZ Therapeutics by 239.8% during the first quarter. Granahan Investment Management LLC now owns 176,166 shares of the company’s stock valued at $4,529,000 after purchasing an additional 124,324 shares in the last quarter. Sovran Advisors LLC purchased a new position in LENZ Therapeutics during the second quarter valued at $1,268,000. Finally, Swiss National Bank grew its position in shares of LENZ Therapeutics by 12.7% in the first quarter. Swiss National Bank now owns 21,300 shares of the company’s stock valued at $548,000 after purchasing an additional 2,400 shares during the period. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on LENZ shares. Piper Sandler upped their price target on shares of LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Raymond James Financial boosted their price objective on LENZ Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. HC Wainwright increased their target price on LENZ Therapeutics from $38.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 28th. Citigroup reaffirmed a “buy” rating and issued a $49.00 price target (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.80.

LENZ Therapeutics Trading Down 5.4%

Shares of LENZ opened at $38.26 on Friday. LENZ Therapeutics, Inc. has a 12-month low of $16.53 and a 12-month high of $50.40. The firm has a market capitalization of $1.09 billion, a P/E ratio of -20.14 and a beta of 0.50. The firm has a 50-day moving average price of $41.15 and a 200 day moving average price of $32.94.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, July 30th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.05. The firm had revenue of $5.00 million during the quarter, compared to analyst estimates of $5.00 million. Equities research analysts predict that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal 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.