LENZ Therapeutics (NASDAQ:LENZ) Shares Down 6.3% – Time to Sell?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s share price fell 6.3% on Friday . The company traded as low as $31.78 and last traded at $31.78. 8,168 shares were traded during trading, a decline of 94% from the average session volume of 136,605 shares. The stock had previously closed at $33.93.

Wall Street Analyst Weigh In

LENZ has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Raymond James started coverage on LENZ Therapeutics in a research note on Friday, September 27th. They set an “outperform” rating and a $37.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 target price on shares of LENZ Therapeutics in a research report on Thursday, August 15th. Finally, William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $35.40.

LENZ Therapeutics Stock Down 2.2 %

The company’s fifty day simple moving average is $26.10 and its 200-day simple moving average is $21.92.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data 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 quarter in the previous year, the business earned ($1.33) earnings per share. As a group, sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LENZ. American International Group Inc. acquired a new stake in LENZ Therapeutics during the 1st quarter worth about $44,000. SG Americas Securities LLC purchased a new stake in LENZ Therapeutics in the 3rd quarter worth $107,000. Squarepoint Ops LLC purchased a new stake in shares of LENZ Therapeutics during the second quarter worth about $181,000. MetLife Investment Management LLC acquired a new position in shares of LENZ Therapeutics during the third quarter valued at approximately $182,000. Finally, GSA Capital Partners LLP acquired a new position in LENZ Therapeutics in the 3rd quarter valued at $246,000. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

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.