Wellington Management Group LLP Invests $585,000 in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

Wellington Management Group LLP purchased a new stake in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 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 SEC.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in LENZ Therapeutics in the third quarter valued at about $107,000. Squarepoint Ops LLC acquired a new position in LENZ Therapeutics during the 2nd quarter worth $181,000. MetLife Investment Management LLC purchased a new stake in shares of LENZ Therapeutics during the third quarter worth approximately $182,000. GSA Capital Partners LLP acquired a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at $246,000. Finally, Rhumbline Advisers increased its stake in LENZ Therapeutics by 265.6% in the second quarter. Rhumbline Advisers now owns 16,812 shares of the company's stock valued at $291,000 after purchasing an additional 12,214 shares during the last quarter. 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 trading hours on Friday, hitting $32.63. 760,727 shares of the stock were exchanged, compared to its average volume of 138,265. LENZ Therapeutics, Inc. has a 12-month low of $14.42 and a 12-month high of $38.93. The stock has a 50-day moving average of $31.76 and a 200 day moving average of $24.99.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly 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 last year, the firm earned ($1.33) earnings per share. Equities research analysts expect that LENZ Therapeutics, Inc. will post -2.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on LENZ shares. William Blair raised LENZ Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Raymond James began coverage on LENZ Therapeutics in a research report on Friday, September 27th. They issued an "outperform" rating and a $37.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, LENZ Therapeutics presently has an average rating of "Buy" and an average price target 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.