Northern Trust Corp Acquires 9,649 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Northern Trust Corp boosted its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,288 shares of the company's stock after buying an additional 9,649 shares during the quarter. Northern Trust Corp owned approximately 0.51% of LENZ Therapeutics worth $4,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in LENZ Therapeutics in the 4th quarter worth about $29,000. SG Americas Securities LLC boosted its position in LENZ Therapeutics by 20.7% during 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 during the period. Rhumbline Advisers increased its stake in shares of LENZ Therapeutics by 6.2% in the fourth quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock worth $541,000 after purchasing an additional 1,100 shares in the last quarter. 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 purchasing an additional 1,151 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of LENZ Therapeutics in the fourth quarter valued at approximately $46,000. 54.32% of the stock is currently owned by institutional investors.

LENZ Therapeutics Price Performance

NASDAQ:LENZ traded down $0.69 during trading hours on Wednesday, hitting $28.71. The stock had a trading volume of 214,492 shares, compared to its average volume of 184,156. The company has a 50 day simple moving average of $25.61 and a two-hundred day simple moving average of $27.24. The firm has a market capitalization of $808.07 million, a price-to-earnings ratio of -16.22 and a beta of 0.41. LENZ Therapeutics, Inc. has a one year low of $14.42 and a one year high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.02. Equities research analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Analyst Ratings Changes

LENZ has been the subject of several analyst reports. Piper Sandler started coverage on shares of LENZ Therapeutics in a report on Monday, April 14th. They issued an "overweight" rating and a $51.00 price objective for the company. Citigroup raised their price target on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. TD Cowen assumed coverage on LENZ Therapeutics in a research report on Tuesday, March 18th. They issued a "buy" rating and a $60.00 price target for the company. Finally, HC Wainwright reissued a "buy" rating and set a $38.00 price objective on shares of LENZ Therapeutics in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, LENZ Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $46.60.

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.