LENZ Therapeutics (NASDAQ:LENZ) Insider Shawn Olsson Sells 10,000 Shares

LENZ Therapeutics, Inc. (NASDAQ:LENZ) insider Shawn Olsson sold 10,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $26.10, for a total value of $261,000.00. Following the completion of the transaction, the insider directly owned 4,733 shares of the company’s stock, valued at approximately $123,531.30. The trade was a 67.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

LENZ Therapeutics Stock Up 4.3%

Shares of LENZ stock traded up $1.17 during mid-day trading on Wednesday, reaching $28.40. 1,203,383 shares of the stock traded hands, compared to its average volume of 477,312. The company has a market cap of $888.64 million, a price-to-earnings ratio of -13.46 and a beta of 0.46. The stock’s fifty day simple moving average is $36.42 and its two-hundred day simple moving average is $33.82. LENZ Therapeutics, Inc. has a 1-year low of $16.53 and a 1-year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.08. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $4.64 million. On average, equities research analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on LENZ shares. HC Wainwright reissued a “buy” rating and issued a $56.00 price objective on shares of LENZ Therapeutics in a research note on Monday, October 27th. Citigroup reiterated a “buy” rating and issued a $49.00 price target (up previously from $45.00) on shares of LENZ Therapeutics in a research report on Thursday, July 31st. Piper Sandler increased their price target on LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price objective (up from $40.00) on shares of LENZ Therapeutics in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LENZ Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $56.40.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at about $299,000. Dark Forest Capital Management LP bought a new stake in LENZ Therapeutics in the third quarter worth approximately $473,000. Alyeska Investment Group L.P. increased its holdings in LENZ Therapeutics by 11.5% in the third quarter. Alyeska Investment Group L.P. now owns 242,113 shares of the company’s stock worth $11,278,000 after purchasing an additional 25,000 shares in the last quarter. Voleon Capital Management LP acquired a new position in LENZ Therapeutics in the third quarter valued at approximately $400,000. Finally, Summit Partners Public Asset Management LLC boosted its holdings in shares of LENZ Therapeutics by 34.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 323,857 shares of the company’s stock worth $15,085,000 after buying an additional 83,857 shares in the last quarter. 54.32% of the stock is owned by institutional investors.

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.