LENZ Therapeutics, Inc. $LENZ Shares Newly Acquired by BML Capital Management LLC

BML Capital Management LLC purchased a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 283,114 shares of the company’s stock, valued at approximately $1,087,000. LENZ Therapeutics comprises approximately 0.6% of BML Capital Management LLC’s holdings, making the stock its 16th largest position. BML Capital Management LLC owned approximately 0.90% of LENZ Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LENZ. Russell Investments Group Ltd. increased its stake in LENZ Therapeutics by 975.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 160,996 shares of the company’s stock worth $618,000 after acquiring an additional 146,026 shares during the last quarter. Inscription Capital LLC purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $44,000. Pinnacle Wealth Planning Services Inc. boosted its position in shares of LENZ Therapeutics by 92.5% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 10,104 shares of the company’s stock valued at $39,000 after acquiring an additional 4,854 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of LENZ Therapeutics by 16.0% during the 2nd quarter. Squarepoint Ops LLC now owns 1,747,096 shares of the company’s stock valued at $9,924,000 after acquiring an additional 240,597 shares during the last quarter. Finally, Corient Private Wealth LP boosted its position in shares of LENZ Therapeutics by 101.1% during the 2nd quarter. Corient Private Wealth LP now owns 74,931 shares of the company’s stock valued at $426,000 after acquiring an additional 37,672 shares during the last quarter. 54.32% of the stock is owned by institutional investors.

LENZ Therapeutics Price Performance

Shares of NASDAQ LENZ opened at $4.13 on Friday. The business’s 50 day moving average is $3.80 and its two-hundred day moving average is $7.33. LENZ Therapeutics, Inc. has a 1-year low of $2.80 and a 1-year high of $32.13. The stock has a market capitalization of $129.76 million, a P/E ratio of -0.92 and a beta of 0.78.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Wednesday, October 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The company had revenue of $3.38 million for the quarter, compared to analysts’ expectations of $4.20 million. LENZ Therapeutics had a negative net margin of 1,134.97% and a negative return on equity of 59.56%. As a group, equities research analysts anticipate that LENZ Therapeutics, Inc. will post -4.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LENZ. Zacks Research raised shares of LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. HC Wainwright decreased their price target on shares of LENZ Therapeutics to $16.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Weiss Ratings lowered shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. Piper Sandler lowered their price objective on shares of LENZ Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. Finally, Citigroup dropped their price objective on shares of LENZ Therapeutics from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.75.

Insider Activity at LENZ Therapeutics

In other news, major shareholder Ra Capital Management, L.P. sold 2,718,684 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $3.36, for a total transaction of $9,134,778.24. Following the transaction, the insider owned 57,559 shares of the company’s stock, valued at approximately $193,398.24. The trade was a 97.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.30% of the company’s stock.

LENZ Therapeutics Profile

LENZ Therapeutics is a biopharmaceutical company focused on developing treatments for presbyopia, the age-related difficulty focusing on nearby objects. Its lead product, VIZZ (aceclidine ophthalmic solution), is a prescription eye drop approved in the United States for treating presbyopia in adults. VIZZ is designed to improve near vision by constricting the pupil, which can increase depth of focus. The company’s work centers on developing and commercializing this topical, non-invasive treatment as an alternative to corrective eyewear for people with presbyopia.