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

Bank of America Corp DE grew its holdings 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 (SEC). The firm owned 38,246 shares of the company's stock after buying an additional 18,395 shares during the quarter. Bank of America Corp DE owned about 0.14% of LENZ Therapeutics worth $1,104,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Alyeska Investment Group L.P. lifted its holdings in shares of LENZ Therapeutics by 16.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company's stock valued at $4,103,000 after buying an additional 20,000 shares during the period. Northern Trust Corp raised its holdings in LENZ Therapeutics by 7.4% during the fourth quarter. Northern Trust Corp now owns 139,288 shares of the company's stock worth $4,021,000 after purchasing an additional 9,649 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in LENZ Therapeutics by 116.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 67,891 shares of the company's stock worth $1,960,000 after purchasing an additional 36,582 shares during the last quarter. Virtus ETF Advisers LLC acquired a new position in LENZ Therapeutics during the fourth quarter worth $67,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in LENZ Therapeutics by 83.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock worth $23,760,000 after purchasing an additional 374,326 shares during the last quarter. 54.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LENZ has been the subject of several research reports. Piper Sandler initiated coverage on LENZ Therapeutics in a report on Monday, April 14th. They set an "overweight" rating and a $51.00 price objective for the company. TD Cowen initiated coverage on LENZ Therapeutics in a report on Tuesday, March 18th. They set a "buy" rating and a $60.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price objective on shares of LENZ Therapeutics in a report on Thursday, May 8th. Finally, Citigroup lifted their price objective on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $46.60.

LENZ Therapeutics Trading Up 5.5%

Shares of NASDAQ LENZ traded up $1.66 during trading on Friday, reaching $31.96. The company had a trading volume of 476,060 shares, compared to its average volume of 185,561. LENZ Therapeutics, Inc. has a twelve month low of $15.71 and a twelve month high of $38.93. The stock has a market capitalization of $899.55 million, a PE ratio of -18.06 and a beta of 0.42. The stock has a 50-day moving average price of $26.13 and a two-hundred day moving average price of $26.95.

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