LENZ Therapeutics (NASDAQ:LENZ) Trading Up 6.8% – Time to Buy?

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) were up 6.8% during mid-day trading on Monday . The company traded as high as $37.93 and last traded at $37.93. Approximately 9,322 shares were traded during trading, a decline of 93% from the average daily volume of 136,030 shares. The stock had previously closed at $35.50.

Analysts Set New Price Targets

LENZ has been the subject of a number of research reports. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and issued a $36.00 target price on shares of LENZ Therapeutics in a research note on Thursday, August 15th. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Finally, Raymond James started coverage on LENZ Therapeutics in a report on Friday, September 27th. They issued an “outperform” rating and a $37.00 price target for the company. 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, the company presently has an average rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Price Performance

The stock’s 50 day moving average is $27.89 and its two-hundred day moving average is $22.88.

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

Institutional Investors Weigh In On LENZ Therapeutics

Several large investors have recently made changes to their positions in LENZ. American International Group Inc. acquired a new position in LENZ Therapeutics in the first quarter valued at about $44,000. SG Americas Securities LLC acquired a new stake in shares of LENZ Therapeutics during the third quarter worth approximately $107,000. Squarepoint Ops LLC bought a new position in shares of LENZ Therapeutics in the second quarter valued at approximately $181,000. MetLife Investment Management LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter worth approximately $182,000. Finally, GSA Capital Partners LLP bought a new stake in LENZ Therapeutics during the 3rd quarter worth approximately $246,000. Institutional investors own 54.32% of the company’s stock.

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.