Jefferies Financial Group Inc. Buys Shares of 200,300 LENZ Therapeutics, Inc. $LENZ

Key Points

• Jefferies Financial Group initiated a position in LENZ Therapeutics by purchasing 200,300 shares worth approximately $1.14 million, representing about 0.64% of the company. Institutional investors and hedge funds collectively own 54.32% of LENZ.
• LENZ reported a quarterly loss of $1.02 per share, slightly better than the $1.05 consensus estimate, while revenue of $5.49 million exceeded expectations of $2.38 million. Despite the beat, the company recorded a negative net margin of 586.74%.
• Shares opened at $5.11, near the lower end of their 52-week range of $4.53 to $50.40. Analysts maintain a “Moderate Buy” consensus with an average price target of $28.80, although Piper Sandler cut its target to $7 and assigned a neutral rating.

Jefferies Financial Group Inc. bought a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 200,300 shares of the company's stock, valued at approximately $1,138,000. Jefferies Financial Group Inc. owned about 0.64% of LENZ Therapeutics at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LENZ. Quarry LP acquired a new position in LENZ Therapeutics in the third quarter valued at approximately $27,000. State of Wyoming bought a new position in LENZ Therapeutics in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in LENZ Therapeutics during the 4th quarter worth $32,000. Osaic Holdings Inc. grew its holdings in LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company's stock worth $34,000 after acquiring an additional 1,116 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of LENZ Therapeutics by 51.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company's stock valued at $41,000 after acquiring an additional 477 shares during the last quarter. Institutional investors and hedge funds own 54.32% of the company's stock.

LENZ Therapeutics Stock Performance

LENZ stock opened at $5.11 on Monday. LENZ Therapeutics, Inc. has a 1-year low of $4.53 and a 1-year high of $50.40. The firm has a market cap of $160.56 million, a PE ratio of -1.25 and a beta of 0.65. The business's 50-day moving average price is $5.29 and its two-hundred day moving average price is $8.14.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.03. The company had revenue of $5.49 million during the quarter, compared to the consensus estimate of $2.38 million. LENZ Therapeutics had a negative return on equity of 53.39% and a negative net margin of 586.74%. On average, analysts forecast that LENZ Therapeutics, Inc. will post -4.18 earnings per share for the current year.

Analyst Ratings Changes

LENZ has been the topic of a number of analyst reports. Citigroup reissued a "buy" rating on shares of LENZ Therapeutics in a research note on Wednesday, August 12th. HC Wainwright reaffirmed a "buy" rating on shares of LENZ Therapeutics in a research note on Tuesday, July 7th. Piper Sandler dropped their price objective on LENZ Therapeutics from $12.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, August 12th. Weiss Ratings raised LENZ Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 25th. Finally, Zacks Research upgraded LENZ Therapeutics from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LENZ Therapeutics has an average rating of "Moderate Buy" and an average price target of $28.80.

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.

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