LENZ Therapeutics (NASDAQ:LENZ) Trading 0.7% Higher

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s share price traded up 0.7% on Thursday . The stock traded as high as $17.72 and last traded at $17.66. 104,411 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 274,485 shares. The stock had previously closed at $17.54.

Wall Street Analyst Weigh In

A number of research analysts have commented on LENZ shares. Piper Sandler initiated coverage on LENZ Therapeutics in a research note on Wednesday, March 27th. They set an “overweight” rating and a $28.00 price target on the stock. Leerink Partnrs reissued an “outperform” rating on shares of LENZ Therapeutics in a research note on Monday, April 15th. William Blair assumed coverage on LENZ Therapeutics in a research report on Monday, April 15th. They issued an “outperform” rating for the company. Citigroup initiated coverage on shares of LENZ Therapeutics in a research report on Wednesday, April 10th. They set a “buy” rating and a $34.00 price target on the stock. Finally, SVB Leerink started coverage on shares of LENZ Therapeutics in a report on Monday, April 15th. They issued an “outperform” rating and a $32.00 price objective for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $31.33.

LENZ Therapeutics Price Performance

The stock has a 50 day simple moving average of $16.81.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($3.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($2.69). As a group, research analysts anticipate that LENZ Therapeutics, Inc. will post -3.06 EPS for the current year.

Insider Buying and Selling at LENZ Therapeutics

In other LENZ Therapeutics news, Director James W. Mccollum purchased 31,332 shares of the business’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $15.99 per share, for a total transaction of $500,998.68. Following the completion of the purchase, the director now directly owns 525,565 shares in the company, valued at $8,403,784.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 38.40% of the company’s stock.

Hedge Funds Weigh In On LENZ Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BML Capital Management LLC acquired a new stake in LENZ Therapeutics during the first quarter worth approximately $1,427,000. BNP Paribas Financial Markets purchased a new position in shares of LENZ Therapeutics in the 1st quarter valued at $362,000. Jennison Associates LLC acquired a new stake in LENZ Therapeutics during the 1st quarter worth $3,009,000. Marquette Asset Management LLC purchased a new stake in LENZ Therapeutics in the first quarter valued at $131,000. Finally, Vanguard Group Inc. acquired a new position in LENZ Therapeutics in the first quarter valued at $4,621,000. 54.32% of the stock is owned by institutional investors and hedge funds.

About LENZ Therapeutics

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.