Renaissance Technologies LLC Reduces Stock Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Renaissance Technologies LLC cut its holdings in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 48.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,366 shares of the company's stock after selling 23,900 shares during the quarter. Renaissance Technologies LLC owned 0.09% of LENZ Therapeutics worth $732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have 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 fourth quarter valued at $29,000. KLP Kapitalforvaltning AS acquired a new position in shares of LENZ Therapeutics in the 4th quarter valued at approximately $46,000. SG Americas Securities LLC raised 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 valued at $158,000 after purchasing an additional 935 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in LENZ Therapeutics during the fourth quarter worth $168,000. Finally, Wells Fargo & Company MN lifted its holdings in LENZ Therapeutics by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 7,504 shares of the company's stock worth $217,000 after acquiring an additional 1,608 shares during the last quarter. Institutional investors and hedge funds own 54.32% of the company's stock.

LENZ Therapeutics Stock Down 1.4 %

Shares of NASDAQ LENZ traded down $0.42 during mid-day trading on Monday, reaching $29.10. 126,906 shares of the company were exchanged, compared to its average volume of 184,866. The company's 50-day simple moving average is $24.07 and its 200-day simple moving average is $27.29. LENZ Therapeutics, Inc. has a twelve month low of $14.42 and a twelve month high of $38.93. The stock has a market capitalization of $801.50 million, a P/E ratio of -6.10 and a beta of 0.43.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, equities research analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current year.

Analyst Ratings Changes

LENZ has been the topic of several analyst reports. TD Cowen began coverage on LENZ Therapeutics in a research report on Tuesday, March 18th. They issued a "buy" rating and a $60.00 target price on the stock. Citigroup increased their target price 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 reiterated a "buy" rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research note on Wednesday, April 16th. Finally, Piper Sandler initiated coverage on shares of LENZ Therapeutics in a report on Monday, April 14th. They issued an "overweight" rating and a $51.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $46.60.

LENZ Therapeutics Company 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.