Sovran Advisors LLC Takes $1.27 Million Position in LENZ Therapeutics, Inc. $LENZ

Key Points

• Sovran Advisors LLC has invested approximately $1.27 million in LENZ Therapeutics, acquiring 40,423 shares of the company.
• Following recent investments, institutional investors now hold about 54.32% of LENZ Therapeutics' stock, indicating strong interest in the company.
• LENZ Therapeutics has received multiple analysts' upgrades, with price targets raised to as high as $49.00, reflecting a bullish outlook on the stock.

Sovran Advisors LLC bought a new position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 40,423 shares of the company's stock, valued at approximately $1,268,000. Sovran Advisors LLC owned about 0.14% of LENZ Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LENZ. Banque Transatlantique SA acquired a new stake in LENZ Therapeutics during the 1st quarter worth $119,000. GAMMA Investing LLC boosted its position in shares of LENZ Therapeutics by 5,254.1% during the 1st quarter. GAMMA Investing LLC now owns 5,836 shares of the company's stock valued at $150,000 after acquiring an additional 5,727 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of LENZ Therapeutics during the 1st quarter valued at about $168,000. D. E. Shaw & Co. Inc. acquired a new position in shares of LENZ Therapeutics during the 4th quarter valued at about $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of LENZ Therapeutics by 14.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company's stock valued at $229,000 after acquiring an additional 1,005 shares during the last quarter. Institutional investors and hedge funds own 54.32% of the company's stock.

LENZ Therapeutics Price Performance

Shares of LENZ stock traded up $0.58 during trading hours on Friday, reaching $42.27. 929,073 shares of the stock were exchanged, compared to its average volume of 400,425. The business's fifty day moving average is $36.71 and its two-hundred day moving average is $30.41. LENZ Therapeutics, Inc. has a 12-month low of $16.53 and a 12-month high of $44.00. The firm has a market capitalization of $1.21 billion, a P/E ratio of -22.25 and a beta of 0.45.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.53) earnings per share for the quarter, topping analysts' consensus estimates of ($0.58) by $0.05. The firm had revenue of $5.00 million for the quarter, compared to analysts' expectations of $5.00 million. As a group, equities research analysts predict that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LENZ has been the topic of several recent research reports. Raymond James Financial boosted their price target on shares of LENZ Therapeutics from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Citigroup reissued a "buy" rating and set a $49.00 price target (up previously from $45.00) on shares of LENZ Therapeutics in a research report on Thursday, July 31st. Finally, 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 report on Monday, July 28th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $49.60.

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.