LENZ Therapeutics, Inc. $LENZ Shares Newly Acquired by BML Capital Management LLC

BML Capital Management LLC purchased a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 283,114 shares of the company’s stock, valued at approximately $1,087,000. LENZ Therapeutics accounts for about 0.6% of BML Capital Management LLC’s portfolio, making the stock its 16th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. lifted its stake in LENZ Therapeutics by 92.5% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 10,104 shares of the company’s stock worth $39,000 after purchasing an additional 4,854 shares during the last quarter. Inscription Capital LLC purchased a new position in shares of LENZ Therapeutics during the third quarter valued at approximately $44,000. Deutsche Bank AG purchased a new position in shares of LENZ Therapeutics during the second quarter valued at approximately $93,000. Janney Montgomery Scott LLC bought a new position in shares of LENZ Therapeutics during the first quarter valued at approximately $99,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of LENZ Therapeutics during the second quarter valued at approximately $102,000. 54.32% of the stock is currently owned by institutional investors.

LENZ Therapeutics Price Performance

Shares of LENZ opened at $4.13 on Friday. The firm has a market capitalization of $129.76 million, a price-to-earnings ratio of -0.92 and a beta of 0.78. LENZ Therapeutics, Inc. has a 1-year low of $2.80 and a 1-year high of $32.13. The company has a 50-day moving average of $3.80 and a 200 day moving average of $7.33.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Wednesday, October 28th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). LENZ Therapeutics had a negative return on equity of 59.56% and a negative net margin of 1,134.97%. The company had revenue of $3.38 million for the quarter, compared to analysts’ expectations of $4.20 million. On average, equities analysts anticipate that LENZ Therapeutics, Inc. will post -4.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LENZ. Piper Sandler reduced their price target on LENZ Therapeutics from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Citigroup dropped their price objective on LENZ Therapeutics from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Weiss Ratings downgraded LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. Zacks Research raised LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, HC Wainwright reduced their target price on LENZ Therapeutics to $16.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, LENZ Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $14.75.

Insider Activity

In related news, major shareholder Ra Capital Management, L.P. sold 2,718,684 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $3.36, for a total value of $9,134,778.24. Following the transaction, the insider owned 57,559 shares of the company’s stock, valued at $193,398.24. This represents a 97.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.30% of the company’s stock.

LENZ Therapeutics Company Profile

LENZ Therapeutics is a biopharmaceutical company focused on developing treatments for presbyopia, the age-related difficulty focusing on nearby objects. Its lead product, VIZZ (aceclidine ophthalmic solution), is a prescription eye drop approved in the United States for treating presbyopia in adults. VIZZ is designed to improve near vision by constricting the pupil, which can increase depth of focus. The company’s work centers on developing and commercializing this topical, non-invasive treatment as an alternative to corrective eyewear for people with presbyopia.