Insider Buying: LENZ Therapeutics (NASDAQ:LENZ) CFO Acquires 2,198 Shares of Stock

LENZ Therapeutics, Inc. (NASDAQ:LENZ) CFO Daniel Chevallard bought 2,198 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $22.76 per share, for a total transaction of $50,026.48. Following the transaction, the chief financial officer owned 5,386 shares in the company, valued at approximately $122,585.36. The trade was a 68.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

LENZ Therapeutics Stock Performance

NASDAQ LENZ traded up $0.01 on Friday, hitting $22.97. 1,703,670 shares of the stock were exchanged, compared to its average volume of 1,496,675. The stock has a fifty day moving average price of $38.39 and a two-hundred day moving average price of $33.83. The firm has a market capitalization of $718.73 million, a P/E ratio of -10.89 and a beta of 0.46. LENZ Therapeutics, Inc. has a 52-week low of $16.53 and a 52-week high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.08. The firm had revenue of $12.50 million for the quarter, compared to the consensus estimate of $4.64 million. Sell-side analysts expect that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Readystate Asset Management LP purchased a new stake in LENZ Therapeutics during the third quarter valued at approximately $685,000. GSA Capital Partners LLP acquired a new position in shares of LENZ Therapeutics during the third quarter worth $552,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of LENZ Therapeutics by 99.0% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 185,642 shares of the company’s stock worth $8,647,000 after purchasing an additional 92,362 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of LENZ Therapeutics by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,330,286 shares of the company’s stock valued at $61,965,000 after purchasing an additional 39,292 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of LENZ Therapeutics by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,222 shares of the company’s stock worth $523,000 after purchasing an additional 861 shares in the last quarter. Institutional investors own 54.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on LENZ shares. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating and issued a $49.00 price objective (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price (up previously from $40.00) on shares of LENZ Therapeutics in a research report on Monday, October 20th. Piper Sandler boosted their price target on shares of LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $56.00 price objective on shares of LENZ Therapeutics in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

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.