LENZ Therapeutics, Inc. $LENZ is Ally Bridge Group NY LLC’s 7th Largest Position

Ally Bridge Group NY LLC cut its stake in LENZ Therapeutics, Inc. (NASDAQ:LENZ) by 48.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,363 shares of the company’s stock after selling 167,959 shares during the period. LENZ Therapeutics comprises about 5.0% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 7th largest position. Ally Bridge Group NY LLC owned 0.56% of LENZ Therapeutics worth $8,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in LENZ. Versant Venture Management LLC bought a new stake in LENZ Therapeutics during the 3rd quarter valued at about $123,758,000. 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 worth $32,907,000 after acquiring an additional 585,000 shares in the last quarter. Franklin Resources Inc. increased its position in shares of LENZ Therapeutics by 6,756.1% during the third quarter. Franklin Resources Inc. now owns 587,084 shares of the company’s stock worth $27,346,000 after acquiring an additional 578,521 shares during the period. Saturn V Capital Management LP purchased a new position in shares of LENZ Therapeutics during the second quarter worth approximately $10,033,000. Finally, UBS Group AG raised its stake in shares of LENZ Therapeutics by 36.3% during the third quarter. UBS Group AG now owns 1,201,616 shares of the company’s stock valued at $55,971,000 after acquiring an additional 320,135 shares in the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LENZ shares. HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a report on Monday, December 15th. Wall Street Zen upgraded LENZ Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Zacks Research lowered LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Finally, William Blair reissued an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LENZ Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

LENZ Therapeutics Stock Performance

NASDAQ:LENZ opened at $12.15 on Friday. The firm has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $25.99. LENZ Therapeutics, Inc. has a one year low of $11.21 and a one year high of $50.40. The firm has a market cap of $380.17 million, a P/E ratio of -5.76 and a beta of 0.52.

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.