LENZ Therapeutics (NASDAQ:LENZ) Shares Down 4.7% - Should You Sell?

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) shares fell 4.7% on Monday . The company traded as low as $23.92 and last traded at $24.09. 14,060 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 151,066 shares. The stock had previously closed at $25.28.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of LENZ Therapeutics in a report on Thursday, November 7th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, LENZ Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $35.40.

LENZ Therapeutics Price Performance

The stock's 50 day moving average price is $27.76 and its two-hundred day moving average price is $26.94.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of LENZ Therapeutics in the fourth quarter valued at approximately $29,000. SG Americas Securities LLC lifted its stake in shares of LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock valued at $158,000 after buying an additional 935 shares during the period. Rhumbline Advisers grew its position in LENZ Therapeutics by 6.2% during the fourth quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock worth $541,000 after buying an additional 1,100 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in LENZ Therapeutics during the fourth quarter valued at about $46,000. Finally, Wells Fargo & Company MN raised its holdings in LENZ Therapeutics by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,504 shares of the company's stock valued at $217,000 after acquiring an additional 1,608 shares in the last quarter. 54.32% of the stock is owned by institutional investors and hedge funds.

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.