500,000 Shares in LENZ Therapeutics, Inc. $LENZ Purchased by C WorldWide Group Holding A S

Key Points

• C WorldWide Group Holding A S bought 500,000 shares of LENZ Therapeutics in the fourth quarter, worth about $8 million, giving it roughly 1.6% ownership of the company.
• Institutional ownership in LENZ remains high at 54.32%, with several other funds also adding or initiating positions in recent quarters.
• Analyst sentiment is mixed but still leans positive overall: the stock has a Moderate Buy consensus and an average price target of $44, though several firms recently cut targets and one downgraded the shares to sell.

C WorldWide Group Holding A S purchased a new position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 500,000 shares of the company's stock, valued at approximately $8,000,000. C WorldWide Group Holding A S owned approximately 1.60% of LENZ Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of LENZ Therapeutics by 99.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 185,642 shares of the company's stock worth $8,647,000 after acquiring an additional 92,362 shares in the last quarter. First Light Asset Management LLC acquired a new position in shares of LENZ Therapeutics in the third quarter worth about $32,282,000. Versant Venture Management LLC acquired a new position in shares of LENZ Therapeutics in the third quarter worth about $123,758,000. Tyro Capital Management LLC acquired a new position in shares of LENZ Therapeutics in the third quarter worth about $4,689,000. Finally, Sovran Advisors LLC lifted its stake in shares of LENZ Therapeutics by 164.5% in the third quarter. Sovran Advisors LLC now owns 106,920 shares of the company's stock worth $4,980,000 after acquiring an additional 66,497 shares in the last quarter. Institutional investors and hedge funds own 54.32% of the company's stock.

Analyst Upgrades and Downgrades

LENZ has been the topic of several recent analyst reports. Citigroup cut their price target on LENZ Therapeutics from $52.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, March 26th. Bank of America lowered their price objective on LENZ Therapeutics from $35.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Wall Street Zen cut LENZ Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. Weiss Ratings cut LENZ Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, April 21st. Finally, William Blair restated an "outperform" rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.00.

LENZ Therapeutics Price Performance

Shares of NASDAQ LENZ opened at $10.06 on Monday. The stock's 50 day moving average price is $10.49 and its two-hundred day moving average price is $17.50. LENZ Therapeutics, Inc. has a 52-week low of $8.25 and a 52-week high of $50.40. The stock has a market capitalization of $315.38 million, a P/E ratio of -3.58 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its quarterly earnings data on Tuesday, March 24th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.25). The business had revenue of $1.59 million during the quarter, compared to analysts' expectations of $3.09 million. On average, analysts anticipate that LENZ Therapeutics, Inc. will post -3.91 EPS for the current year.

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.

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