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LENZ Therapeutics (NASDAQ:LENZ) Stock Price Down 1.4%

LENZ Therapeutics logo with Medical background

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) shares fell 1.4% on Wednesday . The stock traded as low as $18.54 and last traded at $18.71. 114,183 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 100,288 shares. The stock had previously closed at $18.97.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LENZ. William Blair began coverage on shares of LENZ Therapeutics in a research report on Monday, April 15th. They issued an "outperform" rating on the stock. SVB Leerink began coverage on shares of LENZ Therapeutics in a research report on Monday, April 15th. They issued an "outperform" rating and a $32.00 price objective on the stock. Leerink Partnrs reissued an "outperform" rating on shares of LENZ Therapeutics in a research report on Monday, April 15th. Citigroup began coverage on shares of LENZ Therapeutics in a research report on Wednesday, April 10th. They issued a "buy" rating and a $34.00 price objective on the stock. Finally, Piper Sandler initiated coverage on shares of LENZ Therapeutics in a research report on Wednesday, March 27th. They issued an "overweight" rating and a $28.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $31.33.

Check Out Our Latest Stock Analysis on LENZ Therapeutics

LENZ Therapeutics Stock Performance

The stock has a 50-day moving average price of $17.05.


LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($3.53) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($2.69). Equities analysts predict that LENZ Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James W. Mccollum acquired 31,332 shares of LENZ Therapeutics stock in a transaction on Monday, May 13th. The shares were purchased 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 of the company's stock, valued at approximately $8,403,784.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Ra Capital Management, L.P. purchased 998,009 shares of LENZ Therapeutics stock in a transaction dated Thursday, March 21st. The shares were bought at an average cost of $15.03 per share, for a total transaction of $15,000,075.27. Following the purchase, the director now owns 3,319,339 shares in the company, valued at approximately $49,889,665.17. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James W. Mccollum purchased 31,332 shares of LENZ Therapeutics stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $15.99 per share, for a total transaction of $500,998.68. Following the completion of the purchase, the director now owns 525,565 shares in the company, valued at approximately $8,403,784.35. The disclosure for this purchase can be found here. Corporate insiders own 38.40% of the company's stock.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds have recently made changes to their positions in the stock. American International Group Inc. acquired a new stake in LENZ Therapeutics during the 1st quarter worth approximately $44,000. Marquette Asset Management LLC bought a new position in LENZ Therapeutics during the 1st quarter worth approximately $131,000. BNP Paribas Financial Markets bought a new position in LENZ Therapeutics during the 1st quarter worth approximately $362,000. Jacobs Levy Equity Management Inc. bought a new position in LENZ Therapeutics during the 1st quarter worth approximately $830,000. Finally, BML Capital Management LLC bought a new position in LENZ Therapeutics during the 1st quarter worth approximately $1,427,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.

About LENZ Therapeutics

(Get Free Report)

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.

Further Reading

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