Insider Selling: LENZ Therapeutics (NASDAQ:LENZ) Insider Sells $261,000.00 in Stock

LENZ Therapeutics, Inc. (NASDAQ:LENZ) insider Shawn Olsson sold 10,000 shares of LENZ Therapeutics stock in a transaction on Monday, November 17th. The shares were sold at an average price of $26.10, for a total value of $261,000.00. Following the completion of the transaction, the insider owned 4,733 shares of the company’s stock, valued at approximately $123,531.30. This trade represents a 67.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

LENZ Therapeutics Stock Performance

Shares of LENZ opened at $29.56 on Friday. LENZ Therapeutics, Inc. has a 1 year low of $16.53 and a 1 year high of $50.40. The stock has a market capitalization of $924.93 million, a PE ratio of -14.01 and a beta of 0.46. The stock has a 50-day simple moving average of $35.65 and a 200-day simple moving average of $33.75.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.08. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $4.64 million. Analysts predict that LENZ Therapeutics, Inc. will post -2.18 EPS for the current year.

Analyst Ratings Changes

LENZ has been the topic of a number of recent analyst reports. Citigroup reissued a “buy” rating and issued a $49.00 price objective (up from $45.00) on shares of LENZ Therapeutics in a research report on Thursday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. Zacks Research raised LENZ Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $40.00) on shares of LENZ Therapeutics in a report on Monday, October 20th. Finally, Piper Sandler boosted their target price on LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LENZ. Quarry LP acquired a new stake in shares of LENZ Therapeutics in the third quarter valued at approximately $27,000. Bfsg LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at $30,000. Osaic Holdings Inc. boosted its stake 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 during the period. Tower Research Capital LLC TRC grew its position in LENZ Therapeutics by 51.4% during 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 last quarter. Finally, Ameritas Investment Partners Inc. grew its position in LENZ Therapeutics by 47.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock worth $53,000 after purchasing an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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.