51,842 Shares in LENZ Therapeutics, Inc. (NASDAQ:LENZ) Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC bought a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 51,842 shares of the company's stock, valued at approximately $1,497,000. Granahan Investment Management LLC owned about 0.19% of LENZ Therapeutics at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in LENZ Therapeutics in the 4th quarter valued at $29,000. SG Americas Securities LLC grew its stake in shares of 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 acquiring an additional 935 shares in the last quarter. Rhumbline Advisers increased its position in LENZ Therapeutics by 6.2% during the fourth quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock worth $541,000 after acquiring an additional 1,100 shares during the period. Tower Research Capital LLC TRC raised its stake in LENZ Therapeutics by 162.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock worth $54,000 after purchasing an additional 1,151 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in LENZ Therapeutics in the 4th quarter valued at about $46,000. Institutional investors own 54.32% of the company's stock.

LENZ Therapeutics Stock Performance

Shares of LENZ Therapeutics stock traded down $0.17 during midday trading on Friday, hitting $27.17. 67,830 shares of the company traded hands, compared to its average volume of 186,235. The firm's fifty day moving average price is $24.99 and its 200-day moving average price is $27.33. The stock has a market cap of $764.73 million, a price-to-earnings ratio of -15.35 and a beta of 0.41. LENZ Therapeutics, Inc. has a 12 month low of $14.42 and a 12 month high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.02. Equities research analysts forecast that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LENZ shares. Piper Sandler started coverage on shares of LENZ Therapeutics in a research report on Monday, April 14th. They issued an "overweight" rating and a $51.00 price target for the company. Citigroup lifted their price objective on LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, March 20th. HC Wainwright reissued a "buy" rating and set a $38.00 target price on shares of LENZ Therapeutics in a report on Thursday, May 8th. Finally, TD Cowen started coverage on 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 analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $46.60.

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.