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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) rose 6.3% during mid-day trading on Thursday . The company traded as high as $33.50 and last traded at $33.50. Approximately 43,640 shares traded hands during trading, a decline of 68% from the average daily volume of 137,913 shares. The stock had previously closed at $31.50.

Analysts Set New Price Targets

Several analysts recently commented on LENZ shares. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Raymond James initiated coverage on LENZ Therapeutics in a report on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $35.40.

LENZ Therapeutics Stock Down 2.2 %

The stock’s fifty day simple moving average is $32.25 and its 200-day simple moving average is $25.53.

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

Institutional Trading of LENZ Therapeutics

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in LENZ Therapeutics in the third quarter valued at about $107,000. Squarepoint Ops LLC bought a new position in LENZ Therapeutics in the 2nd quarter valued at about $181,000. MetLife Investment Management LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at approximately $182,000. GSA Capital Partners LLP bought a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $246,000. Finally, Jane Street Group LLC bought a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $286,000. 54.32% of the stock is owned by institutional investors and hedge funds.

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.