LENZ Therapeutics (NASDAQ:LENZ) Stock Price Down 6.1% – Should You Sell?

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) traded down 6.1% during mid-day trading on Monday . The company traded as low as $24.27 and last traded at $23.91. 99,249 shares changed hands during trading, a decline of 39% from the average session volume of 161,642 shares. The stock had previously closed at $25.45.

LENZ Therapeutics Stock Performance

The business has a 50 day moving average price of $24.23 and a 200-day moving average price of $27.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Paradigm Biocapital Advisors LP acquired a new position in LENZ Therapeutics during the 4th quarter worth approximately $22,243,000. Price T Rowe Associates Inc. MD raised its position in shares of LENZ Therapeutics by 83.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company’s stock worth $23,760,000 after purchasing an additional 374,326 shares during the period. Parkman Healthcare Partners LLC bought a new stake in LENZ Therapeutics in the third quarter valued at $3,308,000. Charles Schwab Investment Management Inc. raised its holdings in shares of LENZ Therapeutics by 197.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock valued at $2,929,000 after buying an additional 81,901 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of LENZ Therapeutics by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock worth $34,022,000 after buying an additional 59,630 shares during the period. 54.32% of the stock is owned by institutional investors and hedge funds.

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.