Paradigm Biocapital Advisors LP bought a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 770,455 shares of the company's stock, valued at approximately $22,243,000. LENZ Therapeutics accounts for about 0.8% of Paradigm Biocapital Advisors LP's investment portfolio, making the stock its 25th biggest holding. Paradigm Biocapital Advisors LP owned approximately 2.80% of LENZ Therapeutics as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in LENZ Therapeutics in the fourth quarter valued at approximately $29,000. SG Americas Securities LLC raised its position 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 purchasing an additional 935 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of LENZ Therapeutics by 14.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company's stock worth $229,000 after acquiring an additional 1,005 shares during the period. Rhumbline Advisers lifted its holdings in LENZ Therapeutics by 6.2% during the 4th quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock worth $541,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in LENZ Therapeutics by 162.3% during 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 during the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
LENZ has been the topic of several recent research reports. HC Wainwright reiterated a "buy" rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, May 8th. Piper Sandler initiated coverage on shares of LENZ Therapeutics in a research report on Monday, April 14th. They set an "overweight" rating and a $51.00 price target on the stock. Citigroup lifted their price objective on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. Finally, TD Cowen initiated coverage on shares of LENZ Therapeutics in a research report on Tuesday, March 18th. They set a "buy" rating and a $60.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $46.60.
Check Out Our Latest Research Report on LENZ
LENZ Therapeutics Stock Up 4.6%
Shares of NASDAQ:LENZ traded up $1.22 during midday trading on Monday, hitting $28.03. The stock had a trading volume of 42,050 shares, compared to its average volume of 185,736. The company's 50-day moving average price is $25.07 and its 200-day moving average price is $27.32. LENZ Therapeutics, Inc. has a fifty-two week low of $14.42 and a fifty-two week high of $38.93. The company has a market capitalization of $788.93 million, a P/E ratio of -15.73 and a beta of 0.41.
LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.02. Research analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.
About LENZ Therapeutics
(
Free Report)
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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