Rhumbline Advisers Has $291,000 Stock Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Rhumbline Advisers increased its holdings in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 265.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,812 shares of the company’s stock after purchasing an additional 12,214 shares during the period. Rhumbline Advisers owned approximately 0.46% of LENZ Therapeutics worth $291,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. RA Capital Management L.P. bought a new position in LENZ Therapeutics in the first quarter worth approximately $93,313,000. Vanguard Group Inc. bought a new position in LENZ Therapeutics in the first quarter worth approximately $4,621,000. Jennison Associates LLC bought a new position in LENZ Therapeutics in the first quarter worth approximately $3,009,000. Ikarian Capital LLC bought a new position in LENZ Therapeutics in the first quarter worth approximately $1,898,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in LENZ Therapeutics in the second quarter worth approximately $1,437,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LENZ. HC Wainwright began coverage on LENZ Therapeutics in a report on Monday, August 12th. They issued a “buy” rating and a $38.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a report on Thursday, August 15th. Raymond James initiated coverage on LENZ Therapeutics in a report on Friday. They issued an “outperform” rating and a $37.00 price target on the stock. Finally, William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $35.40.

LENZ Therapeutics Stock Performance

LENZ stock opened at $24.04 on Friday. LENZ Therapeutics, Inc. has a twelve month low of $14.07 and a twelve month high of $29.82. The firm has a 50 day moving average of $22.89.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Equities research analysts anticipate that LENZ Therapeutics, Inc. will post -2.81 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.