The Manufacturers Life Insurance Company Invests $743,000 in LENZ Therapeutics, Inc. (NASDAQ:LENZ)

The Manufacturers Life Insurance Company bought a new position in shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 31,309 shares of the company’s stock, valued at approximately $743,000. The Manufacturers Life Insurance Company owned about 0.11% of LENZ Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in LENZ Therapeutics by 197.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock worth $2,929,000 after buying an additional 81,901 shares during the last quarter. GSA Capital Partners LLP bought a new position in LENZ Therapeutics during the third quarter worth $246,000. SG Americas Securities LLC bought a new position in LENZ Therapeutics during the third quarter worth $107,000. Deerfield Management Company L.P. Series C bought a new position in LENZ Therapeutics during the second quarter worth $300,000. Finally, Squarepoint Ops LLC bought a new position in LENZ Therapeutics during the second quarter worth $181,000. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Price Performance

NASDAQ:LENZ opened at $30.97 on Friday. The firm has a 50-day moving average of $31.07 and a 200-day moving average of $24.44. LENZ Therapeutics, Inc. has a one year low of $14.42 and a one year high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.09. During the same quarter in the prior year, the company earned ($1.33) EPS. As a group, sell-side analysts expect that LENZ Therapeutics, Inc. will post -2.09 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Raymond James started coverage on shares of LENZ Therapeutics in a research note on Friday, September 27th. They issued an “outperform” rating and a $37.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, LENZ Therapeutics currently has a consensus rating of “Buy” and a consensus 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.