Aberdeen Group plc Increases Holdings in LENZ Therapeutics, Inc. $LENZ

Key Points

• Aberdeen Group plc increased its stake in LENZ Therapeutics by 274.4%, adding 358,706 shares in Q4 to hold 489,432 shares (about 1.56% of the company) valued at roughly $7.83 million per the latest SEC filing.
• LENZ reported a weak quarter—EPS ($1.16) missed the ($0.91) estimate and revenue was $1.59M versus a $3.09M consensus—and the stock traded around $9.45 with a market cap of $296.3M and a negative PE of -3.36.
• Analyst views are mixed: the consensus is a "Moderate Buy" with an average price target of $45.60, but Citi recently cut its target from $52 to $26 and some firms have issued sell ratings.

Aberdeen Group plc lifted its position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 274.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 489,432 shares of the company's stock after buying an additional 358,706 shares during the period. Aberdeen Group plc owned about 1.56% of LENZ Therapeutics worth $7,831,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in LENZ Therapeutics by 51.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company's stock worth $41,000 after acquiring an additional 477 shares during the last quarter. Quarry LP bought a new position in LENZ Therapeutics during the 3rd quarter worth approximately $27,000. Bfsg LLC bought a new position in LENZ Therapeutics during the 3rd quarter worth approximately $30,000. Rhumbline Advisers grew its position in LENZ Therapeutics by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 25,019 shares of the company's stock worth $1,165,000 after acquiring an additional 656 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in LENZ Therapeutics by 8.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,222 shares of the company's stock worth $523,000 after acquiring an additional 861 shares during the last quarter. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Stock Down 2.7%

NASDAQ LENZ opened at $9.45 on Thursday. LENZ Therapeutics, Inc. has a twelve month low of $8.25 and a twelve month high of $50.40. The firm has a market capitalization of $296.26 million, a PE ratio of -3.36 and a beta of 0.66. The stock's 50 day moving average is $12.11 and its 200 day moving average is $22.18.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.25). The company had revenue of $1.59 million during the quarter, compared to the consensus estimate of $3.09 million. On average, research analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. William Blair restated an "outperform" rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. HC Wainwright restated a "buy" rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Wall Street Zen lowered LENZ Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of LENZ Therapeutics in a research report on Thursday, January 22nd. Finally, Citigroup cut their price objective on LENZ Therapeutics from $52.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LENZ Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $45.60.

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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