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 stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 239.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,166 shares of the company's stock after purchasing an additional 124,324 shares during the period. Granahan Investment Management LLC owned 0.63% of LENZ Therapeutics worth $4,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of LENZ. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in LENZ Therapeutics by 14.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company's stock valued at $229,000 after acquiring an additional 1,005 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of LENZ Therapeutics by 162.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock worth $54,000 after acquiring an additional 1,151 shares during the period. Wells Fargo & Company MN increased its stake in shares of LENZ Therapeutics by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 7,504 shares of the company's stock worth $217,000 after acquiring an additional 1,608 shares during the period. Wellington Management Group LLP increased its stake in shares of LENZ Therapeutics by 8.1% in the first quarter. Wellington Management Group LLP now owns 30,488 shares of the company's stock worth $784,000 after acquiring an additional 2,272 shares during the period. Finally, Swiss National Bank increased its stake 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 acquiring an additional 2,400 shares during the period. 54.32% of the stock is currently owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Up 0.7%

Shares of LENZ Therapeutics stock traded up $0.26 during trading hours on Tuesday, reaching $39.89. 192,696 shares of the company's stock were exchanged, compared to its average volume of 307,728. The business has a fifty day moving average of $35.14 and a two-hundred day moving average of $29.30. The company has a market capitalization of $1.14 billion, a P/E ratio of -20.99 and a beta of 0.45. LENZ Therapeutics, Inc. has a 1 year low of $16.53 and a 1 year high of $42.77.

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

Analyst Ratings Changes

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

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.