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Geode Capital Management LLC Lowers Stock Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

LENZ Therapeutics logo with Medical background

Geode Capital Management LLC cut its stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 338,024 shares of the company's stock after selling 22,096 shares during the quarter. Geode Capital Management LLC owned approximately 1.23% of LENZ Therapeutics worth $8,027,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LENZ. Barclays PLC raised its stake in LENZ Therapeutics by 273.1% in the third quarter. Barclays PLC now owns 16,463 shares of the company's stock valued at $391,000 after buying an additional 12,051 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of LENZ Therapeutics in the 3rd quarter valued at about $286,000. Wellington Management Group LLP acquired a new stake in shares of LENZ Therapeutics during the 3rd quarter worth about $585,000. State Street Corp lifted its stake in LENZ Therapeutics by 18.7% during the third quarter. State Street Corp now owns 289,154 shares of the company's stock worth $6,865,000 after purchasing an additional 45,600 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new position in LENZ Therapeutics in the third quarter valued at approximately $3,308,000. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LENZ. HC Wainwright restated a "buy" rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, November 7th. Raymond James started coverage on LENZ Therapeutics in a research report on Friday, September 27th. They issued an "outperform" rating and a $37.00 target price for the company. 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 MarketBeat.com, LENZ Therapeutics presently has a consensus rating of "Buy" and an average price target of $35.40.

View Our Latest Stock Analysis on LENZ

LENZ Therapeutics Price Performance

Shares of LENZ traded up $0.17 during mid-day trading on Friday, hitting $28.46. 129,436 shares of the company's stock were exchanged, compared to its average volume of 162,768. LENZ Therapeutics, Inc. has a fifty-two week low of $14.42 and a fifty-two week high of $38.93. The business's 50 day moving average is $32.52 and its two-hundred day moving average is $25.82.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.09. During the same period in the previous year, the company earned ($1.33) earnings per share. On average, equities research analysts anticipate that LENZ Therapeutics, Inc. will post -2.09 earnings per share for the current year.

About LENZ Therapeutics

(Free Report)

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.

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Institutional Ownership by Quarter for LENZ Therapeutics (NASDAQ:LENZ)

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