Harbor Capital Advisors Inc. Cuts Stake in LENZ Therapeutics, Inc. $LENZ

Harbor Capital Advisors Inc. reduced its position in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 70.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,605 shares of the company’s stock after selling 35,436 shares during the period. Harbor Capital Advisors Inc.’s holdings in LENZ Therapeutics were worth $680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock valued at $34,000 after purchasing an additional 1,116 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of LENZ Therapeutics by 51.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after purchasing an additional 477 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of LENZ Therapeutics by 47.6% during the second quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock valued at $53,000 after purchasing an additional 586 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of LENZ Therapeutics by 93.7% during the second quarter. BNP Paribas Financial Markets now owns 1,951 shares of the company’s stock valued at $57,000 after purchasing an additional 944 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new position in LENZ Therapeutics during the first quarter valued at approximately $119,000. 54.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other LENZ Therapeutics news, insider Shawn Olsson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $26.10, for a total transaction of $261,000.00. Following the transaction, the insider owned 4,733 shares in the company, valued at approximately $123,531.30. This represents a 67.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James W. Mccollum purchased 10,500 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $22.79 per share, with a total value of $239,295.00. Following the acquisition, the director owned 10,500 shares of the company’s stock, valued at approximately $239,295. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 6.90% of the stock is owned by insiders.

LENZ Therapeutics Price Performance

Shares of NASDAQ:LENZ opened at $16.87 on Friday. The business’s 50-day moving average is $25.88 and its 200 day moving average is $32.90. LENZ Therapeutics, Inc. has a 1 year low of $15.70 and a 1 year high of $50.40. The firm has a market capitalization of $527.86 million, a P/E ratio of -8.00 and a beta of 0.46.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.08. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $4.64 million. On average, analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Raymond James Financial restated an “outperform” rating and set a $50.00 target price (up previously from $40.00) on shares of LENZ Therapeutics in a report on Monday, October 20th. HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Zacks Research lowered LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Wednesday, October 8th. Finally, Piper Sandler raised their price target on shares of LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.40.

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.