LENZ Therapeutics (NASDAQ:LENZ) Stock Price Down 5% – What’s Next?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s stock price was down 5% during mid-day trading on Thursday . The company traded as low as $21.75 and last traded at $21.77. Approximately 33,626 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 168,950 shares. The stock had previously closed at $22.91.

Analysts Set New Price Targets

LENZ has been the topic of a number of recent analyst reports. Raymond James initiated coverage on LENZ Therapeutics in a research report on Friday, September 27th. They issued an “outperform” rating and a $37.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research report 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 MarketBeat.com, LENZ Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $35.40.

LENZ Therapeutics Stock Down 4.4 %

The stock has a fifty day simple moving average of $31.96 and a two-hundred day simple moving average of $26.33.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter last year, the company posted ($1.33) EPS. On average, equities analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in LENZ Therapeutics in the 3rd quarter valued at approximately $107,000. Squarepoint Ops LLC bought a new stake in shares of LENZ Therapeutics during the 2nd quarter valued at $181,000. MetLife Investment Management LLC purchased a new stake in LENZ Therapeutics during the 3rd quarter worth about $182,000. GSA Capital Partners LLP bought a new position in shares of LENZ Therapeutics in the third quarter valued at approximately $246,000. Finally, Jane Street Group LLC purchased a new position in shares of LENZ Therapeutics during the 3rd quarter valued at $286,000. Hedge funds and other institutional investors 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.