Paradigm Biocapital Advisors LP Purchases New Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Paradigm Biocapital Advisors LP purchased a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 770,455 shares of the company’s stock, valued at approximately $22,243,000. LENZ Therapeutics makes up approximately 0.8% of Paradigm Biocapital Advisors LP’s investment portfolio, making the stock its 25th biggest holding. Paradigm Biocapital Advisors LP owned about 2.80% of LENZ Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in LENZ Therapeutics in the fourth quarter valued at approximately $29,000. KLP Kapitalforvaltning AS purchased a new stake in shares of LENZ Therapeutics during the fourth quarter worth approximately $46,000. Tower Research Capital LLC TRC increased its holdings in LENZ Therapeutics by 162.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company’s stock valued at $54,000 after buying an additional 1,151 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in LENZ Therapeutics in the fourth quarter valued at about $67,000. Finally, SG Americas Securities LLC increased its holdings in 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 buying an additional 935 shares in the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Trading Down 1.4%

NASDAQ LENZ opened at $28.96 on Wednesday. LENZ Therapeutics, Inc. has a 52 week low of $14.42 and a 52 week high of $38.93. The stock has a market cap of $815.11 million, a price-to-earnings ratio of -16.36 and a beta of 0.41. The company has a 50-day moving average price of $24.82 and a two-hundred day moving average price of $27.33.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.02. As a group, equities research analysts expect that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LENZ has been the subject of a number of recent research reports. Piper Sandler started coverage on shares of LENZ Therapeutics in a research note on Monday, April 14th. They set an “overweight” rating and a $51.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a report on Thursday, May 8th. Citigroup upped their target price on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Finally, TD Cowen began coverage on shares of LENZ Therapeutics in a research note on Tuesday, March 18th. They issued a “buy” rating and a $60.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, LENZ Therapeutics currently has a consensus rating of “Buy” and an average price target of $46.60.

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.