Y Intercept Hong Kong Ltd lifted its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ – Free Report) by 290.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,715 shares of the company’s stock after buying an additional 118,100 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in LENZ Therapeutics were worth $1,452,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG lifted its stake in LENZ Therapeutics by 30.8% in the fourth quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock valued at $25,148,000 after acquiring an additional 370,122 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of LENZ Therapeutics by 108.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock worth $32,907,000 after purchasing an additional 585,000 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of LENZ Therapeutics by 86.7% in the 4th 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 period. Price T Rowe Associates Inc. MD raised its holdings in shares of LENZ Therapeutics by 307.6% in the 4th 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 period. Finally, First Light Asset Management LLC acquired a new stake in LENZ Therapeutics in the 3rd quarter valued at about $32,282,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently commented on LENZ. Weiss Ratings upgraded LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Citigroup cut their price objective on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Bank of America reduced their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Piper Sandler lowered 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. Finally, Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.80.
LENZ Therapeutics Stock Performance
Shares of LENZ stock traded down $0.20 during midday trading on Friday, hitting $5.59. 1,202,630 shares of the company were exchanged, compared to its average volume of 819,368. LENZ Therapeutics, Inc. has a 52 week low of $5.23 and a 52 week high of $50.40. The firm has a market capitalization of $175.25 million, a P/E ratio of -1.55 and a beta of 0.62. The firm’s 50 day moving average price is $7.00 and its two-hundred day moving average price is $11.12.
LENZ Therapeutics (NASDAQ:LENZ – Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $1.76 million. LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. Analysts expect that LENZ Therapeutics, Inc. will post -4.61 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.
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