Wellington Management Group LLP Takes $585,000 Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Wellington Management Group LLP purchased a new position in LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 24,621 shares of the company’s stock, valued at approximately $585,000. Wellington Management Group LLP owned approximately 0.09% of LENZ Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Parkman Healthcare Partners LLC bought a new position in shares of LENZ Therapeutics during the third quarter valued at approximately $3,308,000. Charles Schwab Investment Management Inc. grew its stake in shares of LENZ Therapeutics by 197.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock worth $2,929,000 after buying an additional 81,901 shares during the last quarter. State Street Corp increased its position in LENZ Therapeutics by 18.7% during the 3rd quarter. State Street Corp now owns 289,154 shares of the company’s stock valued at $6,865,000 after buying an additional 45,600 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in LENZ Therapeutics during the third quarter valued at $743,000. Finally, Bank of New York Mellon Corp boosted its holdings in LENZ Therapeutics by 255.4% in the second quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock worth $687,000 after acquiring an additional 28,556 shares in the last quarter. 54.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LENZ has been the subject of several analyst reports. Raymond James started coverage on LENZ Therapeutics in a report on Friday, September 27th. They set an “outperform” rating and a $37.00 price target for the company. William Blair upgraded shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Price Performance

Shares of NASDAQ:LENZ opened at $32.63 on Friday. The business has a 50-day simple moving average of $31.76 and a two-hundred day simple moving average of $24.99. LENZ Therapeutics, Inc. has a fifty-two week low of $14.42 and a fifty-two week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.09. During the same quarter in the previous year, the firm earned ($1.33) EPS. Research analysts expect that LENZ Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

LENZ Therapeutics Company 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.