Two Sigma Investments LP Sells 8,428 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Two Sigma Investments LP cut its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 33.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,079 shares of the company's stock after selling 8,428 shares during the period. Two Sigma Investments LP owned approximately 0.06% of LENZ Therapeutics worth $493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LENZ. Vanguard Group Inc. boosted its position in shares of LENZ Therapeutics by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company's stock worth $34,022,000 after buying an additional 59,630 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of LENZ Therapeutics by 83.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock valued at $23,760,000 after purchasing an additional 374,326 shares during the period. Paradigm Biocapital Advisors LP acquired a new stake in shares of LENZ Therapeutics in the fourth quarter worth $22,243,000. Alyeska Investment Group L.P. raised its holdings in LENZ Therapeutics by 16.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company's stock worth $4,103,000 after acquiring an additional 20,000 shares during the period. Finally, Northern Trust Corp lifted its position in shares of LENZ Therapeutics by 7.4% during the 4th quarter. Northern Trust Corp now owns 139,288 shares of the company's stock worth $4,021,000 after purchasing an additional 9,649 shares during the last quarter. 54.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LENZ. Piper Sandler started coverage on shares of LENZ Therapeutics in a research report on Monday, April 14th. They set an "overweight" rating and a $51.00 target price on the stock. TD Cowen started coverage on shares of LENZ Therapeutics in a research report on Tuesday, March 18th. They set a "buy" rating and a $60.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research note on Thursday, May 8th. Finally, Citigroup lifted their target price on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $46.60.

LENZ Therapeutics Price Performance

Shares of LENZ traded down $0.58 during mid-day trading on Friday, reaching $29.00. The company had a trading volume of 156,460 shares, compared to its average volume of 217,872. The company's 50-day moving average is $26.72 and its 200-day moving average is $26.86. The company has a market capitalization of $816.23 million, a P/E ratio of -16.38 and a beta of 0.42. LENZ Therapeutics, Inc. has a twelve month low of $16.28 and a twelve month high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.02. As a group, equities analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

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.