The Manufacturers Life Insurance Company Acquires 36,582 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

The Manufacturers Life Insurance Company grew its holdings in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 116.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,891 shares of the company's stock after acquiring an additional 36,582 shares during the period. The Manufacturers Life Insurance Company owned 0.25% of LENZ Therapeutics worth $1,960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of LENZ Therapeutics during the 4th quarter valued at $29,000. SG Americas Securities LLC raised its position in shares of LENZ Therapeutics by 20.7% during 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 during the period. Rhumbline Advisers raised its position in shares of LENZ Therapeutics by 6.2% during the 4th quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock valued at $541,000 after purchasing an additional 1,100 shares during the period. Tower Research Capital LLC TRC raised its position 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 purchasing an additional 1,151 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of LENZ Therapeutics during the 4th quarter valued at $46,000. 54.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LENZ shares. Citigroup raised 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. TD Cowen started coverage on shares of LENZ Therapeutics in a research report on Tuesday, March 18th. They set a "buy" rating and a $60.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday. Finally, Piper Sandler started coverage on shares of LENZ Therapeutics in a research note on Monday, April 14th. They set an "overweight" rating and a $51.00 target price for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, LENZ Therapeutics currently has an average rating of "Buy" and an average price target of $46.60.

LENZ Therapeutics Stock Performance

LENZ opened at $26.34 on Monday. The stock has a market capitalization of $741.37 million, a price-to-earnings ratio of -14.88 and a beta of 0.41. The company has a fifty day moving average of $24.56 and a 200 day moving average of $27.31. LENZ Therapeutics, Inc. has a fifty-two week low of $14.42 and a fifty-two week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.02. On average, equities research analysts forecast that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

LENZ Therapeutics 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.

Want to see what other hedge funds are holding LENZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.