Scoggin Management LP acquired a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 100,000 shares of the company's stock, valued at approximately $2,571,000. LENZ Therapeutics makes up 0.7% of Scoggin Management LP's investment portfolio, making the stock its 27th largest position. Scoggin Management LP owned approximately 0.36% of LENZ Therapeutics at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of LENZ. Paradigm Biocapital Advisors LP bought a new position in shares of LENZ Therapeutics during the 4th quarter valued at about $22,243,000. Nuveen LLC bought a new position in shares of LENZ Therapeutics during the 1st quarter valued at about $1,724,000. Granahan Investment Management LLC bought a new position in shares of LENZ Therapeutics during the 4th quarter valued at about $1,497,000. Lord Abbett & CO. LLC bought a new position in shares of LENZ Therapeutics during the 1st quarter valued at about $1,276,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of LENZ Therapeutics by 116.8% during 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 in the last quarter. Institutional investors own 54.32% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Citigroup reiterated a "buy" rating and set a $49.00 price objective (up previously from $45.00) on shares of LENZ Therapeutics in a report on Thursday, July 31st. HC Wainwright lifted their price objective on LENZ Therapeutics from $38.00 to $48.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Raymond James Financial lifted their price objective on LENZ Therapeutics from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, LENZ Therapeutics presently has an average rating of "Buy" and an average price target of $49.60.
View Our Latest Stock Report on LENZ Therapeutics
LENZ Therapeutics Stock Performance
NASDAQ LENZ traded up $2.06 during trading on Friday, hitting $41.98. The stock had a trading volume of 511,213 shares, compared to its average volume of 681,881. The company has a market capitalization of $1.20 billion, a PE ratio of -22.09 and a beta of 0.45. The company's 50-day moving average price is $34.93 and its two-hundred day moving average price is $29.13. LENZ Therapeutics, Inc. has a 12 month low of $16.53 and a 12 month high of $42.08.
LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.05. The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $5.00 million. As a group, equities analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.
About LENZ Therapeutics
(
Free Report)
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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