LENZ Therapeutics (NASDAQ:LENZ) Trading Up 6.3% – What’s Next?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s share price shot up 6.3% on Thursday . The stock traded as high as $33.50 and last traded at $33.50. 43,640 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 137,913 shares. The stock had previously closed at $31.50.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LENZ. William Blair upgraded shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Finally, Raymond James began coverage on LENZ Therapeutics in a research note on Friday, September 27th. They issued an “outperform” rating and a $37.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Trading Down 2.2 %

The firm has a fifty day moving average of $32.25 and a 200-day moving average of $25.53.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same period in the prior year, the firm posted ($1.33) EPS. On average, analysts expect that LENZ Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Institutional Trading of LENZ Therapeutics

A number of large investors have recently added to or reduced their stakes in LENZ. SG Americas Securities LLC bought a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at about $107,000. Squarepoint Ops LLC acquired a new stake in shares of LENZ Therapeutics in the second quarter valued at approximately $181,000. MetLife Investment Management LLC bought a new position in shares of LENZ Therapeutics during the 3rd quarter worth approximately $182,000. GSA Capital Partners LLP acquired a new position in shares of LENZ Therapeutics during the 3rd quarter worth approximately $246,000. Finally, Jane Street Group LLC bought a new stake in LENZ Therapeutics in the 3rd quarter valued at $286,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Company Profile

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.