LENZ Therapeutics (NASDAQ:LENZ) Trading Down 4.7% – Time to Sell?

LENZ Therapeutics, Inc. (NASDAQ:LENZ) shares fell 4.7% on Monday . The company traded as low as $23.92 and last traded at $24.09. 14,060 shares were traded during mid-day trading, a decline of 91% from the average session volume of 151,066 shares. The stock had previously closed at $25.28.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Six research 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, the company currently has an average rating of “Buy” and a consensus price target of $35.40.

LENZ Therapeutics Trading Down 0.2 %

The firm’s 50-day moving average is $27.98 and its 200 day moving average is $26.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of LENZ Therapeutics in the 4th quarter worth approximately $29,000. SG Americas Securities LLC lifted its position in shares of LENZ Therapeutics by 20.7% in the 4th quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock worth $158,000 after purchasing an additional 935 shares during the period. Rhumbline Advisers lifted its position in shares of LENZ Therapeutics by 6.2% in the 4th quarter. Rhumbline Advisers now owns 18,754 shares of the company’s stock worth $541,000 after purchasing an additional 1,100 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of LENZ Therapeutics in the 4th quarter worth approximately $46,000. Finally, JPMorgan Chase & Co. lifted its position in shares of LENZ Therapeutics by 46.4% in the 4th quarter. JPMorgan Chase & Co. now owns 8,342 shares of the company’s stock worth $241,000 after purchasing an additional 2,643 shares during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

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.