Granahan Investment Management LLC Invests $1.50 Million in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Granahan Investment Management LLC purchased a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 51,842 shares of the company's stock, valued at approximately $1,497,000. Granahan Investment Management LLC owned approximately 0.19% of LENZ Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LENZ. Harbor Capital Advisors Inc. acquired a new stake in LENZ Therapeutics during the 4th quarter worth approximately $1,270,000. Barclays PLC lifted its holdings in shares of LENZ Therapeutics by 273.1% during the third quarter. Barclays PLC now owns 16,463 shares of the company's stock worth $391,000 after purchasing an additional 12,051 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 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 shares of LENZ Therapeutics in the fourth quarter worth $46,000. Finally, SG Americas Securities LLC increased its holdings in LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock valued at $158,000 after purchasing an additional 935 shares during the period. 54.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

LENZ Therapeutics Price Performance

Shares of LENZ Therapeutics stock traded down $0.41 on Tuesday, hitting $28.96. 147,233 shares of the company's stock traded hands, compared to its average volume of 186,226. The company has a fifty day moving average of $24.82 and a two-hundred day moving average of $27.33. LENZ Therapeutics, Inc. has a one year low of $14.42 and a one year high of $38.93. The company has a market capitalization of $815.11 million, a price-to-earnings ratio of -16.36 and a beta of 0.41.

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, topping analysts' consensus estimates of ($0.55) by $0.02. Equities research analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current 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.