Delta Investment Management LLC Acquires Shares of 19,241 LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Delta Investment Management LLC acquired a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LENZ. SG Americas Securities LLC increased its holdings in shares of LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock valued at $158,000 after purchasing an additional 935 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in LENZ Therapeutics in the 4th quarter valued at $168,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in LENZ Therapeutics in the 4th quarter valued at $29,000. Rhumbline Advisers raised its position in LENZ Therapeutics by 6.2% during the 4th quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock worth $541,000 after buying an additional 1,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of LENZ Therapeutics by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 127,196 shares of the company's stock worth $3,672,000 after acquiring an additional 3,825 shares during the period. 54.32% of the stock is owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Performance

Shares of NASDAQ:LENZ traded down $0.05 during midday trading on Friday, hitting $28.17. 84,858 shares of the company's stock traded hands, compared to its average volume of 184,003. The firm's fifty day moving average price is $25.45 and its two-hundred day moving average price is $27.30. LENZ Therapeutics, Inc. has a twelve month low of $14.42 and a twelve month high of $38.93. The company has a market cap of $792.87 million, a PE ratio of -15.92 and a beta of 0.41.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.02. As a group, equities research analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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