Rock Springs Capital Management LP Takes Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Rock Springs Capital Management LP acquired a new position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 29,305 shares of the company's stock, valued at approximately $846,000. Rock Springs Capital Management LP owned 0.11% of LENZ Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LENZ. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of LENZ Therapeutics during the fourth quarter worth approximately $29,000. KLP Kapitalforvaltning AS acquired a new stake in shares of LENZ Therapeutics during the 4th quarter valued at $46,000. Tower Research Capital LLC TRC grew its holdings in shares of LENZ Therapeutics by 162.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock valued at $54,000 after acquiring an additional 1,151 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of LENZ Therapeutics by 20.7% during the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock worth $158,000 after acquiring an additional 935 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in LENZ Therapeutics in the 4th quarter worth about $168,000. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Stock Performance

Shares of LENZ traded down $1.74 during mid-day trading on Friday, hitting $26.87. The company's stock had a trading volume of 191,481 shares, compared to its average volume of 185,280. LENZ Therapeutics, Inc. has a one year low of $14.42 and a one year high of $38.93. The stock's 50-day moving average is $23.61 and its two-hundred day moving average is $27.17. The firm has a market capitalization of $740.08 million, a PE ratio of -5.63 and a beta of 0.43.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings data 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). Analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on LENZ. Piper Sandler started 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 reissued a "buy" rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research report on Wednesday, April 16th. Citigroup raised their price target on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, March 20th. Finally, TD Cowen initiated coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They issued a "buy" rating and a $60.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, LENZ Therapeutics currently has a consensus 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.