Versant Venture Management LLC Buys Shares of 2,656,888 LENZ Therapeutics, Inc. $LENZ

Versant Venture Management LLC purchased a new position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,656,888 shares of the company’s stock, valued at approximately $123,758,000. LENZ Therapeutics comprises approximately 58.3% of Versant Venture Management LLC’s investment portfolio, making the stock its largest holding. Versant Venture Management LLC owned 8.49% of LENZ Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LENZ. Adage Capital Partners GP L.L.C. lifted its stake 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 buying an additional 585,000 shares during the period. Saturn V Capital Management LP acquired a new position in LENZ Therapeutics in the 2nd quarter valued at $10,033,000. Invesco Ltd. acquired a new position in LENZ Therapeutics in the 2nd quarter valued at $7,816,000. Stempoint Capital LP purchased a new position in shares of LENZ Therapeutics during the 2nd quarter worth $5,390,000. Finally, Candriam S.C.A. purchased a new position in shares of LENZ Therapeutics during the 2nd quarter worth $5,020,000. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

LENZ Therapeutics Stock Up 2.6%

Shares of NASDAQ:LENZ opened at $11.89 on Tuesday. LENZ Therapeutics, Inc. has a 52-week low of $11.48 and a 52-week high of $50.40. The company has a 50 day moving average of $16.16 and a two-hundred day moving average of $28.45. The company has a market capitalization of $372.04 million, a price-to-earnings ratio of -5.64 and a beta of 0.50.

Analyst Upgrades and Downgrades

LENZ has been the subject of several recent analyst reports. Zacks Research cut LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Wall Street Zen lowered shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.40.

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.