LENZ Therapeutics, Inc. (NASDAQ:LENZ) Sees Significant Increase in Short Interest

LENZ Therapeutics, Inc. (NASDAQ:LENZ) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,530,000 shares, an increase of 11.9% from the December 15th total of 2,260,000 shares. Based on an average daily volume of 154,500 shares, the short-interest ratio is currently 16.4 days. Approximately 11.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms recently commented on LENZ. HC Wainwright restated a “buy” rating and issued a $38.00 target price on shares of LENZ Therapeutics in a research report on Thursday, November 7th. Raymond James initiated coverage on LENZ Therapeutics in a report on Friday, September 27th. They set an “outperform” rating and a $37.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, LENZ Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $35.40.

LENZ Therapeutics Stock Up 0.4 %

Shares of NASDAQ LENZ opened at $22.50 on Monday. The stock has a fifty day moving average price of $31.50 and a two-hundred day moving average price of $26.40. LENZ Therapeutics has a 1 year low of $14.42 and a 1 year high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter last year, the company earned ($1.33) earnings per share. On average, research analysts expect that LENZ Therapeutics will post -2.18 earnings per share for the current year.

Institutional Trading of LENZ Therapeutics

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at $107,000. Squarepoint Ops LLC acquired a new position in shares of LENZ Therapeutics in the second quarter worth about $181,000. MetLife Investment Management LLC purchased a new position in shares of LENZ Therapeutics in the third quarter worth approximately $182,000. GSA Capital Partners LLP acquired a new stake in shares of LENZ Therapeutics during the third quarter valued at approximately $246,000. Finally, Jane Street Group LLC purchased a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at approximately $286,000. 54.32% of the stock is currently owned by institutional investors.

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.