Short Interest in LENZ Therapeutics, Inc. (NASDAQ:LENZ) Expands By 11.9%

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

LENZ Therapeutics Stock Performance

LENZ stock traded up $0.10 during mid-day trading on Friday, hitting $22.50. The company had a trading volume of 143,402 shares, compared to its average volume of 153,115. LENZ Therapeutics has a 12 month low of $14.42 and a 12 month high of $38.93. The stock’s fifty day moving average price is $31.50 and its two-hundred day moving average price is $26.34.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter in the prior year, the firm posted ($1.33) earnings per share. As a group, equities analysts forecast that LENZ Therapeutics will post -2.18 earnings per share for the current year.

Institutional Trading of LENZ Therapeutics

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in shares of LENZ Therapeutics by 255.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock valued at $687,000 after purchasing an additional 28,556 shares during the period. Rhumbline Advisers grew its holdings in LENZ Therapeutics by 265.6% during the 2nd quarter. Rhumbline Advisers now owns 16,812 shares of the company’s stock valued at $291,000 after buying an additional 12,214 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of LENZ Therapeutics by 58.0% during the second quarter. Dimensional Fund Advisors LP now owns 37,190 shares of the company’s stock valued at $644,000 after buying an additional 13,653 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of LENZ Therapeutics by 28.4% in the second quarter. Renaissance Technologies LLC now owns 60,166 shares of the company’s stock worth $1,040,000 after buying an additional 13,300 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of LENZ Therapeutics in the second quarter valued at approximately $390,000. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LENZ. HC Wainwright reaffirmed 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 started coverage on LENZ Therapeutics in a research report on Friday, September 27th. They set an “outperform” rating and a $37.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $35.40.

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.