Wellington Management Group LLP Acquires New Position in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Wellington Management Group LLP bought a new position in LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 24,621 shares of the company's stock, valued at approximately $585,000. Wellington Management Group LLP owned 0.09% of LENZ Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of LENZ Therapeutics in the 3rd quarter valued at about $107,000. Squarepoint Ops LLC purchased a new position in LENZ Therapeutics in the second quarter valued at about $181,000. MetLife Investment Management LLC acquired a new stake in shares of LENZ Therapeutics during the 3rd quarter valued at approximately $182,000. GSA Capital Partners LLP purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $246,000. Finally, Rhumbline Advisers grew its holdings in shares of LENZ Therapeutics by 265.6% in the 2nd quarter. Rhumbline Advisers now owns 16,812 shares of the company's stock worth $291,000 after acquiring an additional 12,214 shares during the period. Hedge funds and other institutional investors own 54.32% of the company's stock.

LENZ Therapeutics Trading Up 7.8 %

NASDAQ LENZ traded up $2.35 during mid-day trading on Friday, hitting $32.63. The company's stock had a trading volume of 760,727 shares, compared to its average volume of 138,265. LENZ Therapeutics, Inc. has a 52-week low of $14.42 and a 52-week high of $38.93. The stock's fifty day simple moving average is $31.76 and its two-hundred day simple moving average is $24.99.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.38) EPS 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) EPS. On average, sell-side analysts predict that LENZ Therapeutics, Inc. will post -2.09 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on LENZ shares. William Blair upgraded LENZ Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Raymond James initiated coverage on shares of LENZ Therapeutics in a research report on Friday, September 27th. They issued an "outperform" rating and a $37.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and set a $38.00 target price on shares of LENZ Therapeutics in a report on Thursday, November 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, LENZ Therapeutics has a consensus rating of "Buy" and an average target price of $35.40.

LENZ Therapeutics 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.