LENZ Therapeutics (NASDAQ:LENZ) Shares Down 8.9% – Here’s What Happened

LENZ Therapeutics, Inc. (NASDAQ:LENZGet Free Report) traded down 8.9% on Friday . The stock traded as low as $23.74 and last traded at $24.00. 76,001 shares changed hands during trading, a decline of 43% from the average session volume of 134,320 shares. The stock had previously closed at $26.34.

Wall Street Analysts Forecast Growth

LENZ has been the subject of several recent analyst reports. Raymond James assumed coverage on shares of LENZ Therapeutics in a research note on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, LENZ Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $35.40.

Get Our Latest Report on LENZ

LENZ Therapeutics Price Performance

The stock has a fifty day moving average price of $32.47 and a 200-day moving average price of $26.12.

LENZ Therapeutics (NASDAQ:LENZGet Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.09. During the same period in the previous year, the business posted ($1.33) earnings per share. As a group, sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Institutional Trading of LENZ Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new stake in LENZ Therapeutics during the 4th quarter worth approximately $1,270,000. Barclays PLC grew its holdings in shares of LENZ Therapeutics by 273.1% during the third quarter. Barclays PLC now owns 16,463 shares of the company’s stock valued at $391,000 after buying an additional 12,051 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at $286,000. Wellington Management Group LLP purchased a new position in LENZ Therapeutics in the 3rd quarter worth $585,000. Finally, State Street Corp lifted its position in LENZ Therapeutics by 18.7% during the 3rd quarter. State Street Corp now owns 289,154 shares of the company’s stock worth $6,865,000 after acquiring an additional 45,600 shares during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

About LENZ Therapeutics

(Get Free Report)

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.

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