Renaissance Technologies LLC Sells 23,900 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Renaissance Technologies LLC trimmed its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 48.5% during the fourth quarter, according to the company in its most recent disclosure 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 period. Renaissance Technologies LLC owned approximately 0.09% of LENZ Therapeutics worth $732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jane Street Group LLC bought a new stake in LENZ Therapeutics in the 3rd quarter valued at approximately $286,000. Barclays PLC grew its position in LENZ Therapeutics by 273.1% in the third quarter. Barclays PLC now owns 16,463 shares of the company's stock valued at $391,000 after purchasing an additional 12,051 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of LENZ Therapeutics during the 4th quarter worth about $1,270,000. SG Americas Securities LLC grew its holdings 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 acquiring an additional 935 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of LENZ Therapeutics in the fourth quarter valued at about $168,000. 54.32% of the stock is owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Down 2.1 %

Shares of LENZ traded down $0.55 during trading hours on Wednesday, hitting $25.34. The company had a trading volume of 182,121 shares, compared to its average volume of 185,743. The business has a fifty day moving average of $24.38 and a 200-day moving average of $27.27. The firm has a market cap of $697.99 million, a price-to-earnings ratio of -5.31 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 released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.03. On average, equities analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LENZ. Piper Sandler initiated coverage on LENZ Therapeutics in a research note on Monday, April 14th. They issued an "overweight" rating and a $51.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target on shares of LENZ Therapeutics in a research report on Wednesday, April 16th. Citigroup lifted their price objective on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. Finally, TD Cowen assumed coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They issued a "buy" rating and a $60.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price 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.