LENZ Therapeutics, Inc. $LENZ Shares Bought by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC increased its stake in LENZ Therapeutics, Inc. by 239.8% during the 1st quarter, owning 176,166 shares valued at approximately $4,529,000.
• LENZ Therapeutics stock opened at $39.92 and has shown significant price movement, with a twelve-month range of $16.53 to $41.70.
• Analysts have a consensus rating of "Buy" for LENZ, with target prices ranging from $40.00 to $49.00.

Granahan Investment Management LLC increased its holdings in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 239.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,166 shares of the company's stock after acquiring an additional 124,324 shares during the period. Granahan Investment Management LLC owned approximately 0.63% of LENZ Therapeutics worth $4,529,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of LENZ Therapeutics by 14.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company's stock valued at $229,000 after purchasing an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in LENZ Therapeutics by 162.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock valued at $54,000 after buying an additional 1,151 shares during the last quarter. Wells Fargo & Company MN increased its holdings in LENZ Therapeutics by 27.3% during the fourth quarter. Wells Fargo & Company MN now owns 7,504 shares of the company's stock valued at $217,000 after buying an additional 1,608 shares during the last quarter. Wellington Management Group LLP increased its holdings in LENZ Therapeutics by 8.1% during the first quarter. Wellington Management Group LLP now owns 30,488 shares of the company's stock valued at $784,000 after buying an additional 2,272 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of LENZ Therapeutics by 12.7% in the first quarter. Swiss National Bank now owns 21,300 shares of the company's stock worth $548,000 after purchasing an additional 2,400 shares during the period. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Stock Performance

LENZ stock traded up $0.46 during trading on Wednesday, reaching $40.35. The company had a trading volume of 115,136 shares, compared to its average volume of 306,704. The firm has a 50-day simple moving average of $35.34 and a 200-day simple moving average of $29.37. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -21.24 and a beta of 0.45. LENZ Therapeutics, Inc. has a twelve month low of $16.53 and a twelve month high of $42.77.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.05. The firm had revenue of $5.00 million during the quarter, compared to analyst estimates of $5.00 million. Sell-side analysts expect that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.