Form 4: Versant Funds Divest LENZ Therapeutics Shares

Versant Venture Capital entities, a 10% owner and director of LENZ Therapeutics, Inc., reported sales of common stock totaling 260,713 shares across two dates in August 2025 under a Rule 10b5-1 plan.

Summary

• Versant Venture Capital VI, L.P., Versant Venture Capital VII, L.P., and related entities, identified as a 10% owner and director of LENZ Therapeutics, Inc. (LENZ), reported sales of common stock.
• On August 15, 2025, 145,051 shares of common stock were sold directly at a price of $39.5 per share, leaving 1,430,848 shares directly owned by Versant Venture Capital VI, L.P.
• Also on August 15, 2025, 69,949 shares of common stock were sold indirectly at a price of $39.5 per share, leaving 977,963 shares indirectly owned by Versant Venture Capital VII, L.P.
• On August 18, 2025, an additional 30,628 shares of common stock were sold directly at a weighted average price of $38.5611 per share, resulting in 1,400,220 shares directly owned by Versant Venture Capital VI, L.P.
• Also on August 18, 2025, 15,085 shares of common stock were sold indirectly at a weighted average price of $38.5611 per share, resulting in 962,878 shares indirectly owned by Versant Venture Capital VII, L.P.
• The sales on August 18, 2025, occurred in multiple transactions with prices ranging from $38.26 to $39.24.
• The reported transactions were made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 4

Explanation: The sentiment is moderately negative due to significant insider selling by a major shareholder and director. While the Rule 10b5-1 plan mitigates the immediate negative implications by indicating pre-planned sales, it still represents a reduction in a key insider's stake, which can be perceived as a lack of increasing confidence.

Positives

• The reported share sales were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not necessarily a reaction to recent negative company developments or new material non-public information.

Negatives

• A significant 10% owner and director, Versant Venture Capital, reduced its beneficial ownership in LENZ Therapeutics, Inc. by selling a total of 260,713 shares.
• The sales occurred at prices ranging from $38.5611 to $39.5 per share, representing a substantial divestment by a key insider.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The reported transactions involve a 10% owner and director (Versant Venture Capital entities) selling shares of the issuer (LENZ Therapeutics, Inc.), which constitutes a related party transaction.

Stakeholder Impact

• Shareholders may perceive the insider selling as a lack of confidence or a signal that the stock's current valuation is attractive for selling, potentially leading to negative sentiment and downward pressure on the stock price.
• The reduction in ownership by a significant institutional investor could impact institutional investor perception and future investment decisions.

Key Dates

Recommendation

The sale of shares by a significant 10% owner and director, Versant Venture Capital, is generally viewed as a negative signal. However, the transactions were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not necessarily a reaction to recent adverse developments. Investors should monitor future insider activity and company performance, but this filing alone does not warrant a strong sell recommendation without further fundamental analysis of LENZ Therapeutics' business and prospects.

Keywords

LENZ Therapeutics, Versant Venture Capital, Insider Trading, Form 4, Stock Sale, 10% Owner, Director, Equity, SEC Filing, Rule 10b5-1