LENZ Therapeutics (NASDAQ:LENZ) Trading Up 0.7%

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

Analysts Set New Price Targets

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

LENZ Therapeutics Trading Up 0.7 %

The company has a 50-day moving average of $16.81.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($3.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($2.69). As a group, equities research analysts forecast that LENZ Therapeutics, Inc. will post -3.06 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LENZ. RA Capital Management L.P. bought a new position in LENZ Therapeutics in the first quarter valued at about $93,313,000. Vanguard Group Inc. acquired a new position in shares of LENZ Therapeutics in the first quarter valued at approximately $4,621,000. Jennison Associates LLC bought a new position in LENZ Therapeutics in the 1st quarter valued at approximately $3,009,000. Ikarian Capital LLC acquired a new stake in LENZ Therapeutics during the 1st quarter worth approximately $1,898,000. Finally, BML Capital Management LLC bought a new stake in LENZ Therapeutics during the 1st quarter worth approximately $1,427,000. Institutional investors own 54.32% of the company’s stock.

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.