40,423 Shares in LENZ Therapeutics, Inc. $LENZ Purchased by Sovran Advisors LLC

Sovran Advisors LLC purchased a new position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the second quarter, Holdings Channel.com reports. The firm purchased 40,423 shares of the company’s stock, valued at approximately $1,268,000.

Several other institutional investors also recently modified their holdings of LENZ. Paradigm Biocapital Advisors LP grew its holdings in shares of LENZ Therapeutics by 96.2% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 1,511,932 shares of the company’s stock worth $38,872,000 after purchasing an additional 741,477 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of LENZ Therapeutics during the 1st quarter worth approximately $13,825,000. Granahan Investment Management LLC grew its holdings in shares of LENZ Therapeutics by 239.8% during the 1st quarter. Granahan Investment Management LLC now owns 176,166 shares of the company’s stock worth $4,529,000 after purchasing an additional 124,324 shares in the last quarter. Scoggin Management LP acquired a new stake in shares of LENZ Therapeutics during the 1st quarter worth approximately $2,571,000. Finally, Nuveen LLC bought a new position in shares of LENZ Therapeutics during the 1st quarter worth approximately $1,724,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Stock Performance

LENZ opened at $41.69 on Friday. LENZ Therapeutics, Inc. has a 52-week low of $16.53 and a 52-week high of $43.81. The firm has a market capitalization of $1.19 billion, a PE ratio of -21.94 and a beta of 0.45. The business’s 50-day simple moving average is $36.56 and its 200 day simple moving average is $30.26.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, July 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.05. The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $5.00 million. On average, research analysts forecast that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James Financial boosted their target price on LENZ Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Citigroup reaffirmed a “buy” rating and set a $49.00 price objective (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. Finally, HC Wainwright lifted their price objective on LENZ Therapeutics from $38.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, LENZ Therapeutics currently has an average rating of “Buy” and an average target price of $49.60.

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.