Jennison Associates LLC Invests $3.01 Million in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Jennison Associates LLC acquired a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZFree Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 134,740 shares of the company’s stock, valued at approximately $3,009,000. Jennison Associates LLC owned about 3.69% of LENZ Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Separately, BNP Paribas Financial Markets acquired a new position in LENZ Therapeutics in the 1st quarter valued at approximately $362,000. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Price Performance

LENZ Therapeutics stock opened at $18.61 on Wednesday. The business’s fifty day moving average is $16.95. LENZ Therapeutics, Inc. has a 52-week low of $14.07 and a 52-week high of $29.82.

LENZ Therapeutics (NASDAQ:LENZGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($3.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($2.69). Equities analysts anticipate that LENZ Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other LENZ Therapeutics news, Director James W. Mccollum bought 31,332 shares of LENZ Therapeutics stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $15.99 per share, with a total value of $500,998.68. Following the acquisition, the director now directly owns 525,565 shares of the company’s stock, valued at $8,403,784.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 38.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LENZ. SVB Leerink began coverage on LENZ Therapeutics in a research report on Monday, April 15th. They set an “outperform” rating and a $32.00 price objective on the stock. Piper Sandler assumed coverage on shares of LENZ Therapeutics in a report on Wednesday, March 27th. They issued an “overweight” rating and a $28.00 price target on the stock. William Blair began coverage on shares of LENZ Therapeutics in a report on Monday, April 15th. They set an “outperform” rating for the company. Leerink Partnrs reissued an “outperform” rating on shares of LENZ Therapeutics in a research note on Monday, April 15th. Finally, Citigroup initiated coverage on shares of LENZ Therapeutics in a research report on Wednesday, April 10th. They issued a “buy” rating and a $34.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, LENZ Therapeutics presently has a consensus rating of “Buy” and an average price target of $31.33.

Get Our Latest Stock Analysis on LENZ Therapeutics

LENZ Therapeutics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LENZ Therapeutics (NASDAQ:LENZ)

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