Blue Owl Capital Holdings LP Invests $4.30 Million in LENZ Therapeutics, Inc. $LENZ

Key Points

• Blue Owl Capital Holdings acquired 756,722 shares of LENZ Therapeutics worth approximately $4.30 million, representing about 2.41% of the company and 0.6% of Blue Owl’s portfolio.
• Institutional ownership remains significant at 54.32%, with BlackRock, Adage Capital, Franklin Resources and other major investors also adding or holding LENZ shares.
• LENZ shares opened at $4.66, near their one-year low of $4.53, despite the company exceeding quarterly revenue and EPS expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $28.80, although Piper Sandler recently cut its target to $7.00.

Blue Owl Capital Holdings LP bought a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 756,722 shares of the company's stock, valued at approximately $4,298,000. LENZ Therapeutics comprises approximately 0.6% of Blue Owl Capital Holdings LP's holdings, making the stock its 26th biggest holding. Blue Owl Capital Holdings LP owned approximately 2.41% of LENZ Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LENZ. BlackRock Inc. acquired a new position in shares of LENZ Therapeutics during the 2nd quarter worth about $13,019,000. Price T Rowe Associates Inc. MD lifted its stake in LENZ Therapeutics by 307.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company's stock worth $16,378,000 after purchasing an additional 772,411 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in LENZ Therapeutics by 108.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company's stock worth $32,907,000 after purchasing an additional 585,000 shares during the last quarter. Franklin Resources Inc. lifted its stake in LENZ Therapeutics by 6,756.1% during the third quarter. Franklin Resources Inc. now owns 587,084 shares of the company's stock worth $27,346,000 after purchasing an additional 578,521 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in LENZ Therapeutics in the fourth quarter valued at approximately $8,630,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Performance

NASDAQ:LENZ opened at $4.66 on Friday. LENZ Therapeutics, Inc. has a 1 year low of $4.53 and a 1 year high of $50.40. The stock has a fifty day moving average price of $5.49 and a two-hundred day moving average price of $8.56. The stock has a market capitalization of $146.42 million, a price-to-earnings ratio of -1.14 and a beta of 0.65.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($1.02) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.03. The company had revenue of $5.49 million for the quarter, compared to analyst estimates of $2.38 million. LENZ Therapeutics had a negative net margin of 586.74% and a negative return on equity of 53.39%. On average, analysts predict that LENZ Therapeutics, Inc. will post -4.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LENZ shares. Zacks Research upgraded shares of LENZ Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Weiss Ratings cut shares of LENZ Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Piper Sandler dropped their target price on shares of LENZ Therapeutics from $12.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 12th. HC Wainwright reiterated a "buy" rating on shares of LENZ Therapeutics in a research note on Tuesday, July 7th. Finally, Citigroup reissued a "buy" rating on shares of LENZ Therapeutics in a research report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, LENZ Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $28.80.

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.

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