Bank of America Corp DE Increases Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Bank of America Corp DE lifted its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 92.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,246 shares of the company's stock after acquiring an additional 18,395 shares during the quarter. Bank of America Corp DE owned 0.14% of LENZ Therapeutics worth $1,104,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in LENZ Therapeutics during the 4th quarter valued at about $29,000. KLP Kapitalforvaltning AS bought a new position in shares of LENZ Therapeutics during the fourth quarter valued at approximately $46,000. Tower Research Capital LLC TRC raised its holdings in shares of LENZ Therapeutics by 162.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock worth $54,000 after buying an additional 1,151 shares during the period. Virtus ETF Advisers LLC bought a new stake in shares of LENZ Therapeutics during the 4th quarter worth approximately $67,000. Finally, SG Americas Securities LLC boosted its holdings in LENZ Therapeutics by 20.7% during the 4th quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock valued at $158,000 after acquiring an additional 935 shares during the period. Institutional investors own 54.32% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LENZ shares. HC Wainwright reiterated a "buy" rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research note on Thursday, May 8th. Citigroup raised their price target on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. TD Cowen started coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Piper Sandler started coverage on shares of LENZ Therapeutics in a research report on Monday, April 14th. They issued an "overweight" rating and a $51.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, LENZ Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $46.60.

LENZ Therapeutics Trading Down 10.1%

Shares of LENZ traded down $3.14 during midday trading on Tuesday, reaching $28.08. 958,380 shares of the stock were exchanged, compared to its average volume of 189,065. The company has a market capitalization of $790.34 million, a P/E ratio of -15.86 and a beta of 0.42. LENZ Therapeutics, Inc. has a 52 week low of $16.28 and a 52 week high of $38.93. The company's 50 day moving average is $26.35 and its two-hundred day moving average is $26.88.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.02. On average, sell-side analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current year.

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.