Ameriprise Financial Inc. Sells 16,853 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Ameriprise Financial Inc. cut its holdings in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,088 shares of the company's stock after selling 16,853 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.17% of LENZ Therapeutics worth $1,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LENZ. SG Americas Securities LLC increased its stake in shares of LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock worth $158,000 after purchasing an additional 935 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in LENZ Therapeutics in the 4th quarter valued at approximately $168,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in LENZ Therapeutics during the 4th quarter valued at $29,000. Rhumbline Advisers raised its holdings in LENZ Therapeutics by 6.2% during the 4th quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock valued at $541,000 after acquiring an additional 1,100 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of LENZ Therapeutics by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 127,196 shares of the company's stock worth $3,672,000 after acquiring an additional 3,825 shares in the last quarter. 54.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler began coverage on LENZ Therapeutics in a research report on Monday, April 14th. They issued an "overweight" rating and a $51.00 price target for the company. Citigroup lifted their price objective on LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, March 20th. HC Wainwright restated a "buy" rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research note on Thursday, May 8th. Finally, TD Cowen assumed coverage on LENZ Therapeutics in a research report on Tuesday, March 18th. They set a "buy" rating and a $60.00 price target for the company. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $46.60.

LENZ Therapeutics Price Performance

NASDAQ LENZ traded down $0.58 during trading hours on Wednesday, reaching $29.19. 83,329 shares of the stock traded hands, compared to its average volume of 183,889. The stock has a 50 day simple moving average of $25.92 and a two-hundred day simple moving average of $27.04. LENZ Therapeutics, Inc. has a 1 year low of $14.49 and a 1 year high of $38.93. The company has a market cap of $821.58 million, a price-to-earnings ratio of -16.49 and a beta of 0.41.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, topping analysts' consensus estimates of ($0.55) by $0.02. On average, sell-side analysts forecast 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.