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

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

Analyst Upgrades and Downgrades

Separately, 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $35.40.

LENZ Therapeutics Stock Performance

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

Hedge Funds Weigh In On LENZ Therapeutics

A number of hedge funds have recently bought and sold shares of LENZ. Parkman Healthcare Partners LLC bought a new position in LENZ Therapeutics during the third quarter worth about $3,308,000. Charles Schwab Investment Management Inc. increased its holdings in LENZ Therapeutics by 197.5% in the 3rd 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 period. Vanguard Group Inc. increased its holdings in LENZ Therapeutics by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock valued at $34,022,000 after buying an additional 59,630 shares during the period. State Street Corp increased its holdings in LENZ Therapeutics by 18.7% in the 3rd quarter. State Street Corp now owns 289,154 shares of the company’s stock valued at $6,865,000 after buying an additional 45,600 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in LENZ Therapeutics in the 4th quarter valued at about $1,270,000. 54.32% of the stock is owned by 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.