AlphaQuest LLC Makes New $168,000 Investment in LENZ Therapeutics, Inc. $LENZ

Key Points

• AlphaQuest LLC has acquired a new position in LENZ Therapeutics, Inc., purchasing 6,544 shares valued at approximately $168,000 in the first quarter.
• LENZ Therapeutics has seen significant institutional investment, with several funds like Tower Research Capital LLC increasing their stakes considerably during the past quarters.
• Analysts have raised their price targets for LENZ stock, with a consensus target price now at $49.60 and several firms rating the stock as a "buy."

AlphaQuest LLC bought a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,544 shares of the company's stock, valued at approximately $168,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LENZ Therapeutics by 14.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company's stock worth $229,000 after buying an additional 1,005 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of LENZ Therapeutics by 162.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock worth $54,000 after purchasing an additional 1,151 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of LENZ Therapeutics by 27.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,504 shares of the company's stock worth $217,000 after purchasing an additional 1,608 shares in the last quarter. Wellington Management Group LLP grew 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 worth $784,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of LENZ Therapeutics by 12.7% during the 1st quarter. Swiss National Bank now owns 21,300 shares of the company's stock worth $548,000 after acquiring an additional 2,400 shares during the period. 54.32% of the stock is owned by institutional investors.

LENZ Therapeutics Price Performance

Shares of LENZ traded up $1.59 during trading hours on Friday, hitting $41.51. The company's stock had a trading volume of 159,643 shares, compared to its average volume of 305,367. The business has a 50 day simple moving average of $34.70 and a two-hundred day simple moving average of $29.01. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -21.85 and a beta of 0.45. LENZ Therapeutics, Inc. has a 52-week low of $16.53 and a 52-week high of $41.70.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.05. The firm had revenue of $5.00 million for the quarter, compared to analysts' expectations of $5.00 million. Research analysts predict that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup reissued a "buy" rating and issued a $49.00 price objective (up previously from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. HC Wainwright increased their price objective on shares of LENZ Therapeutics from $38.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Raymond James Financial raised their price target on shares of LENZ Therapeutics from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, LENZ Therapeutics presently has a consensus rating of "Buy" and an average target price of $49.60.

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.