Blue Owl Capital Holdings LP Acquires New Position in LENZ Therapeutics, Inc. $LENZ

Blue Owl Capital Holdings LP purchased a new position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the 4th quarter, Holdings Channel reports. The firm purchased 150,000 shares of the company’s stock, valued at approximately $2,400,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Simplify Asset Management Inc. acquired a new position in LENZ Therapeutics during the 4th quarter worth approximately $280,000. AlphaCore Capital LLC acquired a new position in LENZ Therapeutics during the 4th quarter worth approximately $160,000. DNB Asset Management AS acquired a new position in LENZ Therapeutics during the 4th quarter worth approximately $307,000. C WorldWide Group Holding A S acquired a new position in LENZ Therapeutics during the 4th quarter worth approximately $8,000,000. Finally, UBS Group AG grew its holdings in LENZ Therapeutics by 30.8% during the 4th quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock worth $25,148,000 after acquiring an additional 370,122 shares in the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a report on Tuesday, March 10th. Citigroup lowered their price target on shares of LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. HC Wainwright lowered their target price on shares of LENZ Therapeutics from $48.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Piper Sandler cut shares of LENZ Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $39.00 to $12.00 in a report on Tuesday, May 12th. Finally, Bank of America lowered their target price on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a report 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

LENZ Therapeutics Stock Performance

Shares of LENZ Therapeutics stock opened at $7.55 on Monday. The company has a fifty day simple moving average of $9.42 and a 200-day simple moving average of $15.67. LENZ Therapeutics, Inc. has a 12-month low of $6.61 and a 12-month high of $50.40. The stock has a market cap of $236.69 million, a price-to-earnings ratio of -2.10 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Monday, May 11th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.22). LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. The company had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.76 million. On average, analysts forecast that LENZ Therapeutics, Inc. will post -4.47 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.