TD Asset Management Inc Sells 68,172 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Key Points

• TD Asset Management Inc reduced its stake in LENZ Therapeutics by 66.2%, now holding 34,828 shares valued at approximately $895,000 as of their latest SEC filing.
• LENZ Therapeutics' stock has a market capitalization of $836.55 million and has experienced a low of $16.53 and a high of $38.93 over the past twelve months.
• Analysts are optimistic about LENZ, with five giving it a "buy" rating and a consensus price target of $49.60 after several upgrades from notable firms.

TD Asset Management Inc decreased its holdings in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,828 shares of the company's stock after selling 68,172 shares during the period. TD Asset Management Inc owned approximately 0.13% of LENZ Therapeutics worth $895,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Paradigm Biocapital Advisors LP bought a new stake in LENZ Therapeutics during the fourth quarter worth $22,243,000. Price T Rowe Associates Inc. MD boosted its holdings in LENZ Therapeutics by 83.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock worth $23,760,000 after acquiring an additional 374,326 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of LENZ Therapeutics by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company's stock worth $34,022,000 after acquiring an additional 59,630 shares in the last quarter. Granahan Investment Management LLC purchased a new stake in shares of LENZ Therapeutics in the fourth quarter valued at about $1,497,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of LENZ Therapeutics by 116.8% during the fourth 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. 54.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LENZ shares. Citigroup reaffirmed a "buy" rating and issued a $49.00 price objective (up from $45.00) on shares of LENZ Therapeutics in a research report on Thursday, July 31st. HC Wainwright upped their target price on LENZ Therapeutics from $38.00 to $48.00 and gave the company a "buy" rating in a report on Monday, July 28th. Raymond James Financial lifted their price target on LENZ Therapeutics from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Piper Sandler assumed coverage on LENZ Therapeutics in a research report on Monday, April 14th. They issued an "overweight" rating and a $51.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $49.60.

LENZ Therapeutics Trading Up 8.2%

Shares of LENZ stock traded up $2.62 during trading hours on Friday, hitting $34.74. 684,093 shares of the company were exchanged, compared to its average volume of 256,845. The stock has a market capitalization of $990.85 million, a price-to-earnings ratio of -18.04 and a beta of 0.42. The firm has a fifty day simple moving average of $31.16 and a 200 day simple moving average of $27.17. LENZ Therapeutics, Inc. has a 52-week low of $16.53 and a 52-week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, beating 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. Sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current 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.