Granahan Investment Management LLC Boosts Holdings in LENZ Therapeutics, Inc. $LENZ

Granahan Investment Management LLC increased its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 125.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 431,100 shares of the company’s stock after buying an additional 239,703 shares during the period. Granahan Investment Management LLC owned about 1.38% of LENZ Therapeutics worth $6,898,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. State of Wisconsin Investment Board increased its holdings in LENZ Therapeutics by 33.7% during the fourth quarter. State of Wisconsin Investment Board now owns 32,235 shares of the company’s stock worth $516,000 after buying an additional 8,122 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in LENZ Therapeutics during the fourth quarter worth about $370,000. Blair William & Co. IL increased its holdings in LENZ Therapeutics by 27.7% during the fourth quarter. Blair William & Co. IL now owns 10,207 shares of the company’s stock worth $163,000 after buying an additional 2,215 shares during the last quarter. Squarepoint Ops LLC increased its holdings in LENZ Therapeutics by 447.8% during the fourth quarter. Squarepoint Ops LLC now owns 491,898 shares of the company’s stock worth $7,870,000 after buying an additional 402,110 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in LENZ Therapeutics during the fourth quarter worth about $740,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LENZ. Wall Street Zen downgraded shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Citigroup reduced their target price on shares of LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. HC Wainwright reduced their target price on shares of LENZ Therapeutics from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Bank of America reduced their target price on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.80.

LENZ Therapeutics Stock Down 1.7%

LENZ opened at $6.52 on Wednesday. The company has a market capitalization of $204.40 million, a price-to-earnings ratio of -1.81 and a beta of 0.58. The firm has a 50-day moving average price of $8.35 and a 200-day moving average price of $13.33. LENZ Therapeutics, Inc. has a twelve month low of $6.28 and a twelve month high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.22). The business had revenue of $1.90 million during the quarter, compared to analysts’ expectations of $1.76 million. LENZ Therapeutics had a negative return on equity of 46.82% and a negative net margin of 519.30%. On average, sell-side analysts expect that LENZ Therapeutics, Inc. will post -4.61 earnings per share for the current fiscal year.

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.