Nuveen LLC Makes New $1.72 Million Investment in LENZ Therapeutics, Inc. $LENZ

Key Points

• Nuveen LLC invested approximately $1.72 million in LENZ Therapeutics by acquiring 67,037 shares, representing 0.24% ownership as of their latest SEC filing.
• LENZ Therapeutics reported earnings of ($0.53) per share, surpassing analysts' expectations of ($0.58), while generating revenues of $5.00 million for the quarter.
• Equities analysts are optimistic about LENZ Therapeutics, with a consensus rating of "Buy" and an average target price of $49.60, indicating potential for growth.

Nuveen LLC acquired a new position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 67,037 shares of the company's stock, valued at approximately $1,724,000. Nuveen LLC owned approximately 0.24% of LENZ Therapeutics as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LENZ. Paradigm Biocapital Advisors LP bought a new position in shares of LENZ Therapeutics in the 4th quarter valued at about $22,243,000. Granahan Investment Management LLC purchased a new stake in LENZ Therapeutics during the fourth quarter valued at approximately $1,497,000. The Manufacturers Life Insurance Company lifted its stake in shares of LENZ Therapeutics by 116.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,891 shares of the company's stock valued at $1,960,000 after purchasing an additional 36,582 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of LENZ Therapeutics in the 1st quarter valued at approximately $660,000. Finally, Vanguard Group Inc. boosted its holdings in shares of LENZ Therapeutics by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 1,199,462 shares of the company's stock worth $30,838,000 after purchasing an additional 21,015 shares during the period. 54.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

LENZ Therapeutics Price Performance

Shares of NASDAQ:LENZ traded down $0.52 on Wednesday, hitting $38.74. 370,740 shares of the company's stock were exchanged, compared to its average volume of 305,732. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -20.40 and a beta of 0.45. LENZ Therapeutics, Inc. has a 12 month low of $16.53 and a 12 month high of $41.70. The business's 50 day simple moving average is $34.30 and its two-hundred day simple moving average is $28.84.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.58) by $0.05. The company had revenue of $5.00 million during the quarter, compared to the consensus estimate of $5.00 million. Equities analysts forecast that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

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.