756,722 Shares in LENZ Therapeutics, Inc. $LENZ Bought by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP bought a new stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 756,722 shares of the company’s stock, valued at approximately $4,298,000. LENZ Therapeutics accounts for about 0.6% of Blue Owl Capital Holdings LP’s portfolio, making the stock its 26th biggest holding.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of LENZ Therapeutics during the 2nd quarter worth $13,019,000. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $16,378,000 after acquiring an additional 772,411 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in LENZ Therapeutics by 108.8% in the 2nd 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 during the last quarter. Franklin Resources Inc. increased its holdings in LENZ Therapeutics by 6,756.1% during the 3rd quarter. Franklin Resources Inc. now owns 587,084 shares of the company’s stock valued at $27,346,000 after acquiring an additional 578,521 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in LENZ Therapeutics during the 4th quarter valued at about $8,630,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LENZ shares. Zacks Research raised shares of LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Piper Sandler dropped their price objective on shares of LENZ Therapeutics from $12.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Citigroup restated a “buy” rating on shares of LENZ Therapeutics in a research report on Wednesday, August 12th. HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research note on Tuesday, July 7th. Finally, Weiss Ratings cut LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.80.

LENZ Therapeutics Stock Performance

NASDAQ LENZ opened at $4.66 on Friday. The firm has a market capitalization of $146.42 million, a price-to-earnings ratio of -1.14 and a beta of 0.65. LENZ Therapeutics, Inc. has a one year low of $4.53 and a one year high of $50.40. The company’s 50 day moving average price is $5.49 and its 200 day moving average price is $8.56.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $5.49 million during the quarter, compared to the consensus estimate of $2.38 million. Sell-side analysts forecast that LENZ Therapeutics, Inc. will post -4.18 EPS for the current fiscal year.

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.