Y Intercept Hong Kong Ltd Buys 118,100 Shares of LENZ Therapeutics, Inc. $LENZ

Y Intercept Hong Kong Ltd grew its stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 290.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,715 shares of the company’s stock after buying an additional 118,100 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.51% of LENZ Therapeutics worth $1,452,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of LENZ Therapeutics during the third quarter worth $27,000. State of Wyoming acquired a new position in LENZ Therapeutics in the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new position in LENZ Therapeutics during the 4th quarter worth about $32,000. Osaic Holdings Inc. increased its holdings in LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of LENZ Therapeutics by 51.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after purchasing an additional 477 shares during the period. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Price Performance

NASDAQ:LENZ traded down $0.20 on Friday, hitting $5.59. 1,202,630 shares of the company’s stock were exchanged, compared to its average volume of 819,368. The firm has a 50-day moving average price of $7.00 and a 200-day moving average price of $11.12. LENZ Therapeutics, Inc. has a 52 week low of $5.23 and a 52 week high of $50.40. The company has a market cap of $175.25 million, a P/E ratio of -1.55 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data 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 company had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.76 million. LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. On average, research analysts expect that LENZ Therapeutics, Inc. will post -4.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LENZ has been the topic of a number of research reports. Piper Sandler cut LENZ Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $39.00 to $12.00 in a research report on Tuesday, May 12th. Wall Street Zen lowered LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Citigroup cut their target price on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Bank of America cut their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Weiss Ratings raised shares of LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

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.