LENZ Therapeutics, Inc. $LENZ Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in LENZ Therapeutics by 1.8%, now holding approximately 4.35% of the company with shares valued at $30.8 million.
• The stock of LENZ Therapeutics opened at $37.37, having a market cap of $1.07 billion and a significant one-year price fluctuation between $16.53 and $41.70.
• Analysts have issued positive ratings for LENZ; with Citigroup raising its price target to $49.00 and the consensus rating being a "Buy" with an average target price of $49.60.

Vanguard Group Inc. boosted its position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,199,462 shares of the company's stock after purchasing an additional 21,015 shares during the period. Vanguard Group Inc. owned approximately 4.35% of LENZ Therapeutics worth $30,838,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Westfield Capital Management Co. LP purchased a new position in LENZ Therapeutics during the first quarter worth about $261,000. Lisanti Capital Growth LLC purchased a new position in LENZ Therapeutics during the first quarter worth about $660,000. Harbor Capital Advisors Inc. raised its stake in LENZ Therapeutics by 10.5% during the first quarter. Harbor Capital Advisors Inc. now owns 48,616 shares of the company's stock worth $1,250,000 after purchasing an additional 4,627 shares during the period. GAMMA Investing LLC raised its stake in LENZ Therapeutics by 5,254.1% during the first quarter. GAMMA Investing LLC now owns 5,836 shares of the company's stock worth $150,000 after purchasing an additional 5,727 shares during the period. Finally, Wellington Management Group LLP raised its stake in LENZ Therapeutics by 14.6% during the fourth quarter. Wellington Management Group LLP now owns 28,216 shares of the company's stock worth $815,000 after purchasing an additional 3,595 shares during the period. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Price Performance

Shares of LENZ stock traded up $0.43 during trading on Monday, reaching $38.63. The company's stock had a trading volume of 222,755 shares, compared to its average volume of 721,070. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -20.33 and a beta of 0.45. The stock's 50-day moving average price is $33.95 and its 200 day moving average price is $28.67. LENZ Therapeutics, Inc. has a 1-year low of $16.53 and a 1-year high of $41.70.

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 for the quarter, beating analysts' consensus estimates of ($0.58) by $0.05. The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $5.00 million. On average, sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LENZ has been the topic of a number of analyst reports. Raymond James Financial lifted their target price 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 boosted their price target on shares of LENZ Therapeutics from $38.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Citigroup reissued a "buy" rating and issued a $49.00 price target (up 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, Based on data from MarketBeat.com, LENZ Therapeutics presently has a consensus rating of "Buy" and an average target price of $49.60.

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.