Price T Rowe Associates Inc. MD Purchases 374,326 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Price T Rowe Associates Inc. MD grew its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 83.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 822,957 shares of the company's stock after acquiring an additional 374,326 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.99% of LENZ Therapeutics worth $23,760,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in shares of LENZ Therapeutics during the 4th quarter valued at $1,270,000. Barclays PLC boosted its position in LENZ Therapeutics by 273.1% in 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 last quarter. Vanguard Group Inc. grew its stake in shares of LENZ Therapeutics by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company's stock valued at $34,022,000 after purchasing an additional 59,630 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of LENZ Therapeutics during the 4th quarter valued at about $46,000. Finally, SG Americas Securities LLC lifted its stake in shares of LENZ Therapeutics by 20.7% in the 4th 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. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Trading Up 1.9 %

LENZ traded up $0.50 during trading hours on Wednesday, hitting $26.39. The company's stock had a trading volume of 12,592 shares, compared to its average volume of 185,095. The stock has a market cap of $726.91 million, a price-to-earnings ratio of -5.53 and a beta of 0.41. The business's 50-day moving average price is $24.31 and its 200-day moving average price is $27.29. 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 earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, analysts forecast that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler initiated coverage on LENZ Therapeutics in a report on Monday, April 14th. They set an "overweight" rating and a $51.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research report on Wednesday, April 16th. TD Cowen started coverage on shares of LENZ Therapeutics in a research note on Tuesday, March 18th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Citigroup increased their price target on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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.