LENZ Therapeutics (NASDAQ:LENZ) CFO Acquires $50,026.48 in Stock

LENZ Therapeutics, Inc. (NASDAQ:LENZ) CFO Daniel Chevallard acquired 2,198 shares of the business’s stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $22.76 per share, for a total transaction of $50,026.48. Following the completion of the acquisition, the chief financial officer directly owned 5,386 shares in the company, valued at approximately $122,585.36. The trade was a 68.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

LENZ Therapeutics Price Performance

Shares of LENZ stock opened at $22.97 on Monday. The firm has a 50-day moving average of $38.39 and a 200-day moving average of $33.94. LENZ Therapeutics, Inc. has a one year low of $16.53 and a one year high of $50.40. The company has a market cap of $718.73 million, a P/E ratio of -10.89 and a beta of 0.46.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.08. The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $4.64 million. As a group, research analysts expect that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LENZ Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bfsg LLC bought a new position in shares of LENZ Therapeutics in the third quarter worth $30,000. Osaic Holdings Inc. lifted its holdings in LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after purchasing an additional 1,116 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in LENZ Therapeutics by 51.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after purchasing an additional 477 shares during the period. Ameritas Investment Partners Inc. grew its holdings in LENZ Therapeutics by 47.6% during the 2nd 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 in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of LENZ Therapeutics by 93.7% during the second quarter. BNP Paribas Financial Markets now owns 1,951 shares of the company’s stock valued at $57,000 after buying an additional 944 shares during the period. Institutional investors own 54.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LENZ shares. Raymond James Financial restated 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. Piper Sandler boosted their target price on shares of LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. Zacks Research upgraded LENZ Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $56.00 price objective on shares of LENZ Therapeutics in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.40.

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.