LENZ Therapeutics (NASDAQ:LENZ) Trading Up 6.3% – Here’s What Happened

LENZ Therapeutics, Inc. (NASDAQ:LENZ) shares shot up 6.3% on Thursday . The stock traded as high as $33.50 and last traded at $33.50. Approximately 43,640 shares were traded during trading, a decline of 68% from the average daily volume of 137,913 shares. The stock had previously closed at $31.50.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. William Blair upgraded shares of LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James began coverage on shares of LENZ Therapeutics in a report on Friday, September 27th. They set an “outperform” rating and a $37.00 price target for the company. Finally, HC Wainwright reaffirmed 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Stock Performance

The stock has a 50-day moving average of $32.07 and a 200-day moving average of $25.39.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.09. During the same quarter last year, the firm posted ($1.33) EPS. Equities analysts forecast that LENZ Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Institutional Trading of LENZ Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in LENZ Therapeutics during the third quarter valued at approximately $107,000. MetLife Investment Management LLC bought a new stake in LENZ Therapeutics in the third quarter valued at about $182,000. GSA Capital Partners LLP acquired a new position in shares of LENZ Therapeutics in the 3rd quarter worth approximately $246,000. Squarepoint Ops LLC acquired a new stake in shares of LENZ Therapeutics in the 2nd quarter valued at $181,000. Finally, Jane Street Group LLC bought a new stake in shares of LENZ Therapeutics in the 3rd quarter worth about $286,000. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

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.