LENZ Therapeutics, Inc. (NASDAQ:LENZ) Short Interest Up 8.8% in August

LENZ Therapeutics, Inc. (NASDAQ:LENZ) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 2,100,000 shares, an increase of 8.8% from the July 31st total of 1,930,000 shares. Approximately 9.5% of the company’s stock are sold short. Based on an average daily trading volume, of 176,700 shares, the days-to-cover ratio is currently 11.9 days.

Institutional Trading of LENZ Therapeutics

A number of hedge funds have recently made changes to their positions in LENZ. BNP Paribas Financial Markets acquired a new stake in shares of LENZ Therapeutics in the first quarter valued at approximately $362,000. Jennison Associates LLC bought a new position in shares of LENZ Therapeutics in the 1st quarter valued at $3,009,000. Marquette Asset Management LLC bought a new position in shares of LENZ Therapeutics in the 1st quarter valued at $131,000. Vanguard Group Inc. bought a new stake in LENZ Therapeutics during the 1st quarter worth $4,621,000. Finally, American International Group Inc. bought a new stake in LENZ Therapeutics during the 1st quarter worth $44,000. 54.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LENZ has been the subject of a number of research reports. HC Wainwright began coverage on LENZ Therapeutics in a report on Monday, August 12th. They set a “buy” rating and a $38.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $35.00.

LENZ Therapeutics Stock Down 2.9 %

LENZ stock opened at $22.72 on Wednesday. LENZ Therapeutics has a twelve month low of $14.07 and a twelve month high of $29.82. The company has a 50 day moving average of $21.74.

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.