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

Two Sigma Investments LP lowered its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 33.0% in 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 quarter. Two Sigma Investments LP owned about 0.06% of LENZ Therapeutics worth $493,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in LENZ Therapeutics by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company's stock worth $34,022,000 after purchasing an additional 59,630 shares during the period. KLP Kapitalforvaltning AS bought a new stake in LENZ Therapeutics during the fourth quarter worth approximately $46,000. SG Americas Securities LLC boosted its position in LENZ Therapeutics by 20.7% during the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock worth $158,000 after purchasing an additional 935 shares during the period. Wells Fargo & Company MN boosted its position in LENZ Therapeutics by 27.3% during the fourth quarter. Wells Fargo & Company MN now owns 7,504 shares of the company's stock worth $217,000 after purchasing an additional 1,608 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of LENZ Therapeutics by 92.7% in the fourth quarter. Bank of America Corp DE now owns 38,246 shares of the company's stock valued at $1,104,000 after acquiring an additional 18,395 shares during the period. Institutional investors own 54.32% of the company's stock.

Analyst Upgrades and Downgrades

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

LENZ Therapeutics Trading Down 1.4%

LENZ Therapeutics stock traded down $0.42 during mid-day trading on Thursday, hitting $29.58. The stock had a trading volume of 228,051 shares, compared to its average volume of 190,822. The stock has a 50-day simple moving average of $26.72 and a two-hundred day simple moving average of $26.86. The stock has a market capitalization of $832.56 million, a PE ratio of -16.71 and a beta of 0.42. LENZ Therapeutics, Inc. has a 12 month low of $16.28 and a 12 month high of $38.93.

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

About LENZ Therapeutics

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.