UBS Group AG Raises Holdings in LENZ Therapeutics, Inc. $LENZ

Key Points

• UBS Group AG boosted its stake in LENZ Therapeutics by 30.8% in the fourth quarter, bringing its holdings to 1,571,738 shares worth about $25.1 million and roughly 5.02% of the company.
• Institutional interest remains high, with hedge funds and other investors owning 54.32% of LENZ shares. Several firms recently added positions, including Versant Venture Management and First Light Asset Management.
• LENZ Therapeutics reported a wider-than-expected quarterly loss of $1.16 per share and revenue of $1.59 million, both below analyst estimates. Despite this, analysts still rate the stock a Moderate Buy with an average target price of $44.00.

UBS Group AG increased its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 30.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,571,738 shares of the company's stock after acquiring an additional 370,122 shares during the period. UBS Group AG owned approximately 5.02% of LENZ Therapeutics worth $25,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its stake in LENZ Therapeutics by 99.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 185,642 shares of the company's stock worth $8,647,000 after acquiring an additional 92,362 shares during the last quarter. First Light Asset Management LLC purchased a new position in LENZ Therapeutics in the 3rd quarter worth $32,282,000. Versant Venture Management LLC purchased a new position in LENZ Therapeutics in the 3rd quarter worth $123,758,000. Tyro Capital Management LLC purchased a new position in LENZ Therapeutics in the 3rd quarter worth $4,689,000. Finally, Sovran Advisors LLC raised its stake in LENZ Therapeutics by 164.5% in the 3rd quarter. Sovran Advisors LLC now owns 106,920 shares of the company's stock worth $4,980,000 after acquiring an additional 66,497 shares during the last quarter. Hedge funds and other institutional investors own 54.32% of the company's stock.

LENZ Therapeutics Price Performance

LENZ stock opened at $10.06 on Monday. The business has a fifty day moving average of $10.49 and a two-hundred day moving average of $17.50. The stock has a market cap of $315.38 million, a price-to-earnings ratio of -3.58 and a beta of 0.62. LENZ Therapeutics, Inc. has a 52-week low of $8.25 and a 52-week high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its earnings results on Tuesday, March 24th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.25). The business had revenue of $1.59 million during the quarter, compared to the consensus estimate of $3.09 million. As a group, sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -3.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LENZ shares. Bank of America reduced their target price on LENZ Therapeutics from $35.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. William Blair restated an "outperform" rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. HC Wainwright reduced their target price on LENZ Therapeutics from $56.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Weiss Ratings downgraded LENZ Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, April 21st. Finally, Citigroup lowered their price objective on LENZ Therapeutics from $52.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, March 26th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.00.

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.

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