Sovran Advisors LLC Raises Stake in LENZ Therapeutics, Inc. $LENZ

Sovran Advisors LLC grew its stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 49.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,134 shares of the company’s stock after acquiring an additional 53,214 shares during the quarter. Sovran Advisors LLC owned about 0.51% of LENZ Therapeutics worth $2,562,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LENZ. Quarry LP purchased a new stake in shares of LENZ Therapeutics in the third quarter valued at about $27,000. Bfsg LLC acquired a new stake in LENZ Therapeutics during the third quarter worth about $30,000. Osaic Holdings Inc. raised its stake in LENZ Therapeutics by 2,146.2% during the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after purchasing an additional 1,116 shares during the period. Tower Research Capital LLC TRC raised its stake in LENZ Therapeutics by 51.4% during the second 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. Finally, BNP Paribas Financial Markets boosted its holdings in LENZ Therapeutics by 93.7% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Price Performance

Shares of LENZ stock opened at $9.67 on Friday. The firm has a market cap of $303.15 million, a PE ratio of -3.44 and a beta of 0.66. The company has a 50-day moving average of $12.70 and a two-hundred day moving average of $22.86. LENZ Therapeutics, Inc. has a 1-year low of $8.25 and a 1-year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.25). The firm had revenue of $1.59 million for the quarter, compared to analyst estimates of $3.09 million. Sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LENZ shares. HC Wainwright reissued a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Wall Street Zen lowered shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Finally, Bank of America cut their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, LENZ Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $45.60.

LENZ Therapeutics Profile

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.