LENZ Therapeutics (NASDAQ:LENZ) Director Acquires $239,295.00 in Stock

LENZ Therapeutics, Inc. (NASDAQ:LENZ) Director James Mccollum bought 10,500 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $22.79 per share, with a total value of $239,295.00. Following the acquisition, the director directly owned 10,500 shares of the company’s stock, valued at approximately $239,295. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

LENZ Therapeutics Stock Performance

Shares of NASDAQ:LENZ traded up $0.22 during midday trading on Monday, hitting $23.19. The company’s stock had a trading volume of 1,048,967 shares, compared to its average volume of 452,223. The company has a market cap of $725.62 million, a P/E ratio of -10.99 and a beta of 0.46. LENZ Therapeutics, Inc. has a 12-month low of $16.53 and a 12-month high of $50.40. The business’s 50 day simple moving average is $38.39 and its 200 day simple moving average is $33.94.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.08. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $4.64 million. On average, sell-side analysts predict that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

Several large investors have recently made changes to their positions in the stock. Intech Investment Management LLC boosted its position in shares of LENZ Therapeutics by 4.3% during the 2nd quarter. Intech Investment Management LLC now owns 9,251 shares of the company’s stock worth $271,000 after purchasing an additional 380 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after buying an additional 477 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of LENZ Therapeutics by 47.6% in the second quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock valued at $53,000 after buying an additional 586 shares in the last quarter. Bfsg LLC purchased a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at $30,000. Finally, Rhumbline Advisers lifted its stake in LENZ Therapeutics by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 25,019 shares of the company’s stock worth $1,165,000 after acquiring an additional 656 shares in the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. Piper Sandler boosted their price target on shares of LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Raymond James Financial restated an “outperform” rating and set a $50.00 price objective (up from $40.00) on shares of LENZ Therapeutics in a research report on Monday, October 20th. Citigroup reaffirmed a “buy” rating and set a $49.00 target price (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. Finally, Zacks Research upgraded shares of LENZ Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.