Short Interest in LENZ Therapeutics, Inc. (NASDAQ:LENZ) Decreases By 16.8%

LENZ Therapeutics, Inc. (NASDAQ:LENZ) was the recipient of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 7,260,872 shares, a decrease of 16.8% from the January 15th total of 8,725,668 shares. Based on an average daily trading volume, of 1,317,908 shares, the days-to-cover ratio is currently 5.5 days. Currently, 24.9% of the shares of the stock are sold short. Currently, 24.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,317,908 shares, the days-to-cover ratio is currently 5.5 days.

LENZ Therapeutics Trading Down 0.7%

Shares of LENZ stock traded down $0.09 during trading hours on Monday, reaching $12.88. The company’s stock had a trading volume of 832,364 shares, compared to its average volume of 1,060,099. LENZ Therapeutics has a one year low of $12.48 and a one year high of $50.40. The stock has a market capitalization of $403.02 million, a P/E ratio of -6.10 and a beta of 0.50. The firm’s fifty day simple moving average is $17.43 and its 200 day simple moving average is $29.21.

Analyst Ratings Changes

LENZ has been the topic of a number of recent analyst reports. 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 research report on Monday, October 20th. HC Wainwright reissued a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Zacks Research lowered shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Versant Venture Management LLC purchased a new stake in shares of LENZ Therapeutics in the 3rd quarter worth approximately $123,758,000. UBS Group AG increased its holdings in shares of LENZ Therapeutics by 30.8% during the fourth quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock valued at $25,148,000 after acquiring an additional 370,122 shares in the last quarter. Vanguard Group Inc. boosted its stake in LENZ Therapeutics by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,330,286 shares of the company’s stock valued at $61,965,000 after purchasing an additional 39,292 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in LENZ Therapeutics by 108.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after purchasing an additional 585,000 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in LENZ Therapeutics by 86.7% in the fourth quarter. Franklin Resources Inc. now owns 1,096,334 shares of the company’s stock worth $17,541,000 after purchasing an additional 509,250 shares during the last quarter. 54.32% of the stock is currently owned by 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.