Key Points
- Insider Shawn Olsson sold 10,000 shares on November 17 at an average price of $26.10 for $261,000, cutting his stake by 67.87% to 4,733 shares valued at about $123,531, as disclosed on an SEC Form 4.
- LENZ shares opened at $29.17 (up ~2.7%) and the company reported Q3 EPS of ($0.59) beating estimates of ($0.67) and revenue of $12.5M versus $4.64M expected.
- Analysts are largely bullish, with a MarketBeat consensus of "Moderate Buy" and an average price target of $56.40, including Piper Sandler's $67 and Raymond James' $50 targets.
LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) insider Shawn Olsson sold 10,000 shares of the business's stock in a transaction dated 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 in the company, valued at $123,531.30. This trade represents a 67.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
LENZ Therapeutics Trading Up 2.7%
LENZ Therapeutics stock opened at $29.17 on Thursday. The stock has a 50 day moving average of $36.15 and a two-hundred day moving average of $33.78. LENZ Therapeutics, Inc. has a twelve month low of $16.53 and a twelve month high of $50.40. The stock has a market capitalization of $912.57 million, a price-to-earnings ratio of -13.81 and a beta of 0.46.
LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.67) by $0.08. The company had revenue of $12.50 million during the quarter, compared to analyst estimates of $4.64 million. Equities analysts predict that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LENZ. Piper Sandler boosted their price target on shares of LENZ Therapeutics to $67.00 and gave the stock an "overweight" rating in a research note on Friday, October 10th. Zacks Research upgraded LENZ Therapeutics from a "hold" rating to a "strong-buy" rating in a research note 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 research report on Monday, October 20th. Citigroup reaffirmed a "buy" rating and set a $49.00 price target (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. 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 investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $56.40.
Check Out Our Latest Stock Analysis on LENZ Therapeutics
Hedge Funds Weigh In On LENZ Therapeutics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LENZ. Westfield Capital Management Co. LP purchased a new position in shares of LENZ Therapeutics during the 1st quarter worth approximately $261,000. Vanguard Group Inc. raised its stake in LENZ Therapeutics by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 1,199,462 shares of the company's stock valued at $30,838,000 after purchasing an additional 21,015 shares during the last quarter. Swiss National Bank lifted its holdings in LENZ Therapeutics by 12.7% in the 1st quarter. Swiss National Bank now owns 21,300 shares of the company's stock valued at $548,000 after purchasing an additional 2,400 shares in the last quarter. Nuveen LLC acquired a new stake in shares of LENZ Therapeutics during the 1st quarter worth about $1,724,000. Finally, Lord Abbett & CO. LLC purchased a new stake in LENZ Therapeutics in the 1st quarter worth approximately $1,276,000. Institutional investors and hedge funds own 54.32% of the company's stock.
LENZ Therapeutics Company Profile
(
Get Free Report)
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.
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