LENZ Therapeutics (NASDAQ:LENZ) Insider Shawn Olsson Sells 10,000 Shares

LENZ Therapeutics, Inc. (NASDAQ:LENZ) insider Shawn Olsson sold 10,000 shares of LENZ Therapeutics stock in a transaction on Monday, November 17th. The shares were sold at an average price of $26.10, for a total value of $261,000.00. Following the completion of the sale, the insider owned 4,733 shares in the company, valued at $123,531.30. This represents a 67.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

LENZ Therapeutics Price Performance

Shares of LENZ stock opened at $29.17 on Thursday. The company has a 50-day moving average of $36.15 and a two-hundred day moving average of $33.78. The firm has a market cap of $912.57 million, a PE ratio of -13.81 and a beta of 0.46. LENZ Therapeutics, Inc. has a 1-year low of $16.53 and a 1-year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.08. The company had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $4.64 million. Sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LENZ has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $56.00 target price on shares of LENZ Therapeutics in a report on Monday, October 27th. Piper Sandler raised their price target on shares of LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Zacks Research upgraded LENZ Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $40.00) on shares of LENZ Therapeutics in a research note on Monday, October 20th. Finally, Citigroup reiterated a “buy” rating and set a $49.00 price target (up previously from $45.00) on shares of LENZ Therapeutics in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Hedge Funds Weigh In On LENZ Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at $27,000. Bfsg LLC purchased a new stake in LENZ Therapeutics in the third quarter valued at $30,000. Osaic Holdings Inc. grew its holdings in shares of LENZ Therapeutics by 2,146.2% during the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after purchasing an additional 1,116 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of LENZ Therapeutics by 51.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after purchasing an additional 477 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in LENZ Therapeutics by 47.6% in the second quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock valued at $53,000 after buying an additional 586 shares during the last quarter. 54.32% of the stock is owned by institutional investors and hedge funds.

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.