LENZ Therapeutics, Inc. (NASDAQ:LENZ) Short Interest Down 16.8% in January

LENZ Therapeutics, Inc. (NASDAQ:LENZ) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 7,260,872 shares, a drop of 16.8% from the January 15th total of 8,725,668 shares. Currently, 24.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,317,908 shares, the short-interest ratio is currently 5.5 days. Based on an average daily trading volume, of 1,317,908 shares, the short-interest ratio is currently 5.5 days. Currently, 24.9% of the shares of the company are short sold.

LENZ Therapeutics Trading Down 0.7%

Shares of LENZ stock traded down $0.09 during trading hours on Monday, reaching $12.88. 832,364 shares of the company’s stock were exchanged, compared to its average volume of 1,060,099. The stock’s 50 day moving average is $17.43 and its 200-day moving average is $29.21. LENZ Therapeutics has a fifty-two week low of $12.48 and a fifty-two week high of $50.40. The company has a market cap of $403.02 million, a price-to-earnings ratio of -6.10 and a beta of 0.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in LENZ Therapeutics in the 3rd quarter worth approximately $27,000. Bfsg LLC purchased a new stake in shares of LENZ Therapeutics during the third quarter worth approximately $30,000. State of Wyoming purchased a new stake in LENZ Therapeutics during the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of LENZ Therapeutics in the 4th quarter valued at $32,000. Finally, Osaic Holdings Inc. grew its stake in LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after buying an additional 1,116 shares during the last quarter. 54.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LENZ has been the subject of several research reports. Zacks Research downgraded shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Thursday, January 22nd. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Finally, Raymond James Financial restated an “outperform” rating and issued a $50.00 target price (up previously from $40.00) on shares of LENZ Therapeutics in a report on Monday, October 20th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LENZ Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $56.40.

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.