LENZ Therapeutics (NASDAQ:LENZ) Shares Down 6.2% – Should You Sell?

LENZ Therapeutics, Inc. (NASDAQ:LENZ) shares fell 6.2% on Monday . The company traded as low as $34.34 and last traded at $34.67. 49,425 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 134,808 shares. The stock had previously closed at $36.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. 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. William Blair upgraded shares of LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of LENZ Therapeutics in a report on Thursday, November 7th. Finally, Piper Sandler restated an “overweight” rating and set a $36.00 target price on shares of LENZ Therapeutics in a research report on Thursday, August 15th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, LENZ Therapeutics has a consensus rating of “Buy” and a consensus price target of $35.40.

LENZ Therapeutics Stock Down 2.8 %

The firm has a fifty day simple moving average of $30.60 and a two-hundred day simple moving average of $24.23.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter last year, the firm earned ($1.33) EPS. Sell-side analysts forecast that LENZ Therapeutics, Inc. will post -2.09 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in LENZ Therapeutics during the 3rd quarter worth approximately $107,000. Squarepoint Ops LLC acquired a new position in LENZ Therapeutics during the second quarter worth approximately $181,000. MetLife Investment Management LLC purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter worth about $182,000. GSA Capital Partners LLP acquired a new stake in LENZ Therapeutics in the 3rd quarter valued at $246,000. Finally, Jane Street Group LLC purchased a new position in shares of LENZ Therapeutics in the third quarter valued at $286,000. 54.32% of the stock is owned by hedge funds and other 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.