Squarepoint Ops LLC Grows Stock Holdings in LENZ Therapeutics, Inc. $LENZ

Squarepoint Ops LLC lifted its stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 16.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,747,096 shares of the company’s stock after purchasing an additional 240,597 shares during the quarter. Squarepoint Ops LLC owned about 5.56% of LENZ Therapeutics worth $9,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LENZ. BlackRock Inc. purchased a new position in LENZ Therapeutics during the second quarter valued at $13,019,000. UBS Group AG increased its holdings in shares of LENZ Therapeutics by 36.3% during the third quarter. UBS Group AG now owns 1,201,616 shares of the company’s stock valued at $55,971,000 after acquiring an additional 320,135 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of LENZ Therapeutics by 108.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after acquiring an additional 585,000 shares in the last quarter. Franklin Resources Inc. raised its position in shares of LENZ Therapeutics by 86.7% in the 4th quarter. Franklin Resources Inc. now owns 1,096,334 shares of the company’s stock worth $17,541,000 after purchasing an additional 509,250 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of LENZ Therapeutics by 307.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company’s stock worth $16,378,000 after purchasing an additional 772,411 shares during the last quarter. Institutional investors own 54.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LENZ shares. Weiss Ratings downgraded shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Piper Sandler dropped their target price on shares of LENZ Therapeutics from $12.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a report on Tuesday, July 7th. Zacks Research raised LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Citigroup reiterated a “buy” rating on shares of LENZ Therapeutics in a research note on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.80.

LENZ Therapeutics Stock Performance

LENZ opened at $4.72 on Friday. The company’s 50-day simple moving average is $5.24 and its two-hundred day simple moving average is $7.67. The stock has a market capitalization of $148.30 million, a P/E ratio of -1.15 and a beta of 0.66. LENZ Therapeutics, Inc. has a 52-week low of $4.53 and a 52-week high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.03. LENZ Therapeutics had a negative net margin of 586.74% and a negative return on equity of 53.39%. The firm had revenue of $5.49 million during the quarter, compared to analyst estimates of $2.38 million. Research analysts forecast that LENZ Therapeutics, Inc. will post -4.18 EPS for the current fiscal year.

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.