Delta Investment Management LLC Takes $555,000 Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Delta Investment Management LLC bought a new position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 19,241 shares of the company's stock, valued at approximately $555,000. Delta Investment Management LLC owned about 0.07% of LENZ Therapeutics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Paradigm Biocapital Advisors LP bought a new position in LENZ Therapeutics during the fourth quarter valued at approximately $22,243,000. Price T Rowe Associates Inc. MD raised its stake in LENZ Therapeutics by 83.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock valued at $23,760,000 after buying an additional 374,326 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of LENZ Therapeutics by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company's stock valued at $34,022,000 after buying an additional 59,630 shares during the period. Granahan Investment Management LLC purchased a new position in shares of LENZ Therapeutics in the 4th quarter worth $1,497,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of LENZ Therapeutics by 116.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 67,891 shares of the company's stock worth $1,960,000 after acquiring an additional 36,582 shares during the period. Institutional investors own 54.32% of the company's stock.

LENZ Therapeutics Price Performance

Shares of NASDAQ:LENZ opened at $28.45 on Tuesday. The company has a market capitalization of $800.75 million, a P/E ratio of -16.07 and a beta of 0.41. LENZ Therapeutics, Inc. has a 1-year low of $14.42 and a 1-year high of $38.93. The firm's 50 day simple moving average is $25.15 and its two-hundred day simple moving average is $27.32.

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

Analyst Upgrades and Downgrades

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

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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