Candriam S.C.A. Takes $5.02 Million Position in LENZ Therapeutics, Inc. $LENZ

Candriam S.C.A. purchased a new position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 171,274 shares of the company’s stock, valued at approximately $5,020,000. Candriam S.C.A. owned 0.60% of LENZ Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LENZ. Calamos Advisors LLC acquired a new position in LENZ Therapeutics in the second quarter valued at about $515,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of LENZ Therapeutics by 63.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,130 shares of the company’s stock valued at $121,000 after acquiring an additional 1,605 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of LENZ Therapeutics by 15.5% in the 2nd quarter. Geode Capital Management LLC now owns 416,122 shares of the company’s stock valued at $12,198,000 after acquiring an additional 55,730 shares during the period. Lisanti Capital Growth LLC lifted its holdings in shares of LENZ Therapeutics by 41.0% in the 2nd quarter. Lisanti Capital Growth LLC now owns 36,185 shares of the company’s stock worth $1,061,000 after acquiring an additional 10,520 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of LENZ Therapeutics by 56.2% during the 2nd quarter. AlphaQuest LLC now owns 10,219 shares of the company’s stock worth $300,000 after purchasing an additional 3,675 shares during the period. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at LENZ Therapeutics

In related news, Director James W. Mccollum acquired 10,500 shares of the stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $22.79 per share, with a total value of $239,295.00. Following the completion of the transaction, the director owned 10,500 shares in the company, valued at $239,295. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel R. Chevallard bought 2,198 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $22.76 per share, for a total transaction of $50,026.48. Following the completion of the purchase, the chief financial officer directly owned 5,386 shares of the company’s stock, valued at approximately $122,585.36. This trade represents a 68.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

LENZ Therapeutics Trading Down 3.4%

Shares of NASDAQ LENZ opened at $25.60 on Friday. The stock has a market cap of $801.02 million, a P/E ratio of -12.13 and a beta of 0.46. LENZ Therapeutics, Inc. has a 12-month low of $16.53 and a 12-month high of $50.40. The business’s fifty day simple moving average is $36.95 and its 200-day simple moving average is $33.82.

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

Analysts Set New Price Targets

A number of analysts have issued reports on LENZ shares. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Wednesday, October 8th. Citigroup reiterated a “buy” rating and issued a $49.00 price objective (up previously from $45.00) on shares of LENZ Therapeutics in a report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price (up previously from $40.00) on shares of LENZ Therapeutics in a research note on Monday, October 20th. Zacks Research raised LENZ Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of LENZ Therapeutics in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

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.