Rhumbline Advisers Sells 787 Shares of LENZ Therapeutics, Inc. $LENZ

Rhumbline Advisers lowered its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 4.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 17,967 shares of the company’s stock after selling 787 shares during the period. Rhumbline Advisers’ holdings in LENZ Therapeutics were worth $462,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in LENZ Therapeutics by 14.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company’s stock worth $229,000 after purchasing an additional 1,005 shares in the last quarter. Wellington Management Group LLP increased its holdings in LENZ Therapeutics by 8.1% during the 1st quarter. Wellington Management Group LLP now owns 30,488 shares of the company’s stock worth $784,000 after purchasing an additional 2,272 shares in the last quarter. Swiss National Bank increased its holdings in LENZ Therapeutics by 12.7% during the 1st quarter. Swiss National Bank now owns 21,300 shares of the company’s stock worth $548,000 after purchasing an additional 2,400 shares in the last quarter. Deutsche Bank AG increased its holdings in LENZ Therapeutics by 81.6% during the 4th quarter. Deutsche Bank AG now owns 9,723 shares of the company’s stock worth $281,000 after purchasing an additional 4,370 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in LENZ Therapeutics by 10.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 48,616 shares of the company’s stock worth $1,250,000 after purchasing an additional 4,627 shares in the last quarter. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Trading Down 1.8%

NASDAQ LENZ opened at $40.53 on Wednesday. LENZ Therapeutics, Inc. has a 1-year low of $16.53 and a 1-year high of $44.00. The company has a 50 day moving average of $37.02 and a 200-day moving average of $30.70. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -21.33 and a beta of 0.45.

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

Analysts Set New Price Targets

A number of research firms have issued reports on LENZ. HC Wainwright increased their target price on LENZ Therapeutics from $38.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Raymond James Financial increased their target price on LENZ Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Citigroup reiterated a “buy” rating and set a $49.00 target price (up previously from $45.00) on shares of LENZ Therapeutics in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, LENZ Therapeutics presently has a consensus rating of “Buy” and an average price target 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.