Alyeska Investment Group L.P. Acquires 20,000 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Alyeska Investment Group L.P. lifted its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,113 shares of the company's stock after acquiring an additional 20,000 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.52% of LENZ Therapeutics worth $4,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp raised its holdings in 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. The Manufacturers Life Insurance Company raised its stake in LENZ Therapeutics by 116.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 67,891 shares of the company's stock worth $1,960,000 after buying an additional 36,582 shares during the last quarter. Virtus ETF Advisers LLC acquired a new position in LENZ Therapeutics in the fourth quarter valued at $67,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 374,326 shares during the period. Finally, Rock Springs Capital Management LP bought a new stake in LENZ Therapeutics during the fourth quarter valued at $846,000. 54.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

LENZ Therapeutics Stock Up 1.8 %

LENZ traded up $0.47 during trading on Friday, hitting $26.34. 226,520 shares of the company's stock were exchanged, compared to its average volume of 186,321. LENZ Therapeutics, Inc. has a fifty-two week low of $14.42 and a fifty-two week high of $38.93. The stock has a market cap of $725.54 million, a P/E ratio of -5.52 and a beta of 0.41. The business's 50 day moving average is $24.47 and its two-hundred day moving average is $27.27.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.02. On average, sell-side analysts forecast that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current 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.