Goldman Sachs Group Inc. Sells 26,853 Shares of LENZ Therapeutics, Inc. $LENZ

Key Points

• Goldman Sachs Group Inc. has reduced its stake in LENZ Therapeutics by 53.9%, owning approximately 22,933 shares valued at $590,000 after selling 26,853 shares.
• Several large investors, including Paradigm Biocapital Advisors LP and Vanguard Group Inc., have increased their stakes in LENZ, reflecting a growing interest among institutional investors, who collectively own 54.32% of the stock.
• Wall Street analysts have a consensus "Buy" rating for LENZ Therapeutics, with an average target price of $49.60, indicating confidence in the company's growth potential.

Goldman Sachs Group Inc. reduced its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 53.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,933 shares of the company's stock after selling 26,853 shares during the quarter. Goldman Sachs Group Inc. owned about 0.08% of LENZ Therapeutics worth $590,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP increased its stake in LENZ Therapeutics by 96.2% during the first quarter. Paradigm Biocapital Advisors LP now owns 1,511,932 shares of the company's stock worth $38,872,000 after acquiring an additional 741,477 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of LENZ Therapeutics by 1.8% during the first quarter. Vanguard Group Inc. now owns 1,199,462 shares of the company's stock valued at $30,838,000 after buying an additional 21,015 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of LENZ Therapeutics during the first quarter valued at approximately $13,825,000. Granahan Investment Management LLC grew its stake in shares of LENZ Therapeutics by 239.8% during the first quarter. Granahan Investment Management LLC now owns 176,166 shares of the company's stock valued at $4,529,000 after buying an additional 124,324 shares during the last quarter. Finally, Scoggin Management LP bought a new position in shares of LENZ Therapeutics during the first quarter valued at approximately $2,571,000. 54.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LENZ. Citigroup reaffirmed a "buy" rating and set a $49.00 target price (up previously from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. HC Wainwright upped their target price on LENZ Therapeutics from $38.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Raymond James Financial upped their target price on LENZ Therapeutics from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $49.60.

LENZ Therapeutics Stock Down 2.5%

Shares of NASDAQ:LENZ opened at $40.03 on Friday. LENZ Therapeutics, Inc. has a 52-week low of $16.53 and a 52-week high of $44.00. The stock has a market cap of $1.14 billion, a P/E ratio of -21.07 and a beta of 0.45. The business's 50 day moving average is $37.24 and its 200 day moving average is $30.89.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.05. The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $5.00 million. On average, sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

LENZ Therapeutics 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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