Bank of New York Mellon Corp Buys 28,556 Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Bank of New York Mellon Corp raised its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 255.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,737 shares of the company’s stock after purchasing an additional 28,556 shares during the period. Bank of New York Mellon Corp owned 1.09% of LENZ Therapeutics worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of LENZ. RA Capital Management L.P. purchased a new stake in shares of LENZ Therapeutics in the first quarter worth approximately $93,313,000. Vanguard Group Inc. purchased a new stake in LENZ Therapeutics in the first quarter worth $4,621,000. Jennison Associates LLC purchased a new stake in LENZ Therapeutics in the first quarter worth $3,009,000. Ikarian Capital LLC bought a new stake in shares of LENZ Therapeutics during the first quarter worth $1,898,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of LENZ Therapeutics during the second quarter valued at $1,437,000. 54.32% of the stock is owned by institutional investors.

LENZ Therapeutics Trading Up 1.4 %

Shares of LENZ Therapeutics stock opened at $22.39 on Monday. The stock’s 50 day moving average is $22.84. LENZ Therapeutics, Inc. has a one year low of $14.07 and a one year high of $29.82.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. On average, research analysts predict that LENZ Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on LENZ. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright assumed coverage on LENZ Therapeutics in a research report on Monday, August 12th. They set a “buy” rating and a $38.00 target price for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $36.00 target price on shares of LENZ Therapeutics in a report on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $35.00.

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.