LENZ Therapeutics, Inc. (NASDAQ:LENZ) Sees Significant Growth in Short Interest

LENZ Therapeutics, Inc. (NASDAQ:LENZ) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,530,000 shares, a growth of 11.9% from the December 15th total of 2,260,000 shares. Based on an average daily volume of 154,500 shares, the days-to-cover ratio is currently 16.4 days. Approximately 11.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in LENZ Therapeutics during the fourth quarter worth $1,270,000. Parkman Healthcare Partners LLC bought a new stake in shares of LENZ Therapeutics during the 3rd quarter worth $3,308,000. The Manufacturers Life Insurance Company acquired a new stake in LENZ Therapeutics in the third quarter valued at about $743,000. Bank of New York Mellon Corp grew its position in LENZ Therapeutics by 255.4% in the second quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock valued at $687,000 after acquiring an additional 28,556 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in LENZ Therapeutics by 197.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock worth $2,929,000 after acquiring an additional 81,901 shares in the last quarter. 54.32% of the stock is owned by institutional investors.

LENZ Therapeutics Price Performance

LENZ opened at $22.50 on Friday. LENZ Therapeutics has a 52-week low of $14.42 and a 52-week high of $38.93. The business’s fifty day moving average is $31.50 and its 200-day moving average is $26.34.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter last year, the company earned ($1.33) EPS. On average, research analysts expect that LENZ Therapeutics will post -2.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LENZ. Raymond James started coverage on LENZ Therapeutics in a research note on Friday, September 27th. They issued an “outperform” rating and a $37.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, LENZ Therapeutics currently has an average rating of “Buy” and an average target price of $35.40.

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.