Insider Buying: LENZ Therapeutics, Inc. (NASDAQ:LENZ) Director Acquires 31,332 Shares of Stock

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) Director James W. Mccollum purchased 31,332 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $15.99 per share, with a total value of $500,998.68. Following the completion of the transaction, the director now owns 525,565 shares in the company, valued at $8,403,784.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

LENZ Therapeutics Trading Down 1.2 %

NASDAQ:LENZ traded down $0.19 during midday trading on Tuesday, reaching $15.72. The stock had a trading volume of 70,011 shares, compared to its average volume of 82,492. LENZ Therapeutics, Inc. has a 12-month low of $14.07 and a 12-month high of $29.82.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

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.

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