Insider Buying: LENZ Therapeutics (NASDAQ:LENZ) Director Purchases $239,295.00 in Stock

LENZ Therapeutics, Inc. (NASDAQ:LENZ) Director James Mccollum acquired 10,500 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $22.79 per share, with a total value of $239,295.00. Following the transaction, the director owned 10,500 shares in the company, valued at $239,295. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

LENZ Therapeutics Trading Down 3.6%

NASDAQ:LENZ opened at $25.50 on Thursday. LENZ Therapeutics, Inc. has a 12-month low of $16.53 and a 12-month high of $50.40. The firm has a market cap of $797.90 million, a price-to-earnings ratio of -12.09 and a beta of 0.46. The company’s 50-day moving average is $37.54 and its two-hundred day moving average is $33.84.

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, beating analysts’ consensus estimates of ($0.67) by $0.08. The firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $4.64 million. On average, equities research analysts forecast that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On LENZ Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of LENZ Therapeutics by 4.4% during the 3rd quarter. Barclays PLC now owns 47,826 shares of the company’s stock worth $2,228,000 after purchasing an additional 2,016 shares during the period. Legato Capital Management LLC lifted its position in LENZ Therapeutics by 135.2% during the third quarter. Legato Capital Management LLC now owns 21,870 shares of the company’s stock valued at $1,019,000 after buying an additional 12,570 shares in the last quarter. TD Asset Management Inc acquired a new stake in shares of LENZ Therapeutics in the third quarter worth $1,463,000. Versant Venture Management LLC purchased a new position in shares of LENZ Therapeutics in the 3rd quarter valued at $123,758,000. Finally, AXQ Capital LP acquired a new position in shares of LENZ Therapeutics during the 3rd quarter valued at $237,000. 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.