Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) dropped 8.9% during mid-day trading on Friday . The company traded as low as $23.74 and last traded at $24.00. 76,001 shares traded hands during trading, a decline of 43% from the average daily volume of 134,320 shares. The stock had previously closed at $26.34.
Analysts Set New Price Targets
LENZ has been the topic of a number of analyst reports. 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. Raymond James started coverage on shares of LENZ Therapeutics in a research report on Friday, September 27th. They set an "outperform" rating and a $37.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $35.40.
Read Our Latest Stock Report on LENZ Therapeutics
LENZ Therapeutics Trading Down 11.9 %
The stock has a 50-day simple moving average of $32.37 and a 200 day simple moving average of $26.16.
LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.47) by $0.09. During the same quarter last year, the firm earned ($1.33) earnings per share. As a group, equities analysts predict that LENZ Therapeutics, Inc. will post -2.09 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in LENZ Therapeutics during the third quarter worth $107,000. Squarepoint Ops LLC acquired a new stake in shares of LENZ Therapeutics during the second quarter valued at $181,000. MetLife Investment Management LLC purchased a new stake in LENZ Therapeutics during the 3rd quarter worth about $182,000. GSA Capital Partners LLP acquired a new position in LENZ Therapeutics in the 3rd quarter valued at about $246,000. Finally, Jane Street Group LLC purchased a new position in LENZ Therapeutics in the 3rd quarter valued at about $286,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.
About LENZ Therapeutics
(
Get Free Report)
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.
Further Reading
Before you consider LENZ Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and LENZ Therapeutics wasn't on the list.
While LENZ Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
