Short Interest in LENZ Therapeutics, Inc. (NASDAQ:LENZ) Rises By 8.8%

LENZ Therapeutics, Inc. (NASDAQ:LENZ) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 2,100,000 shares, an increase of 8.8% from the July 31st total of 1,930,000 shares. Based on an average daily trading volume, of 176,700 shares, the short-interest ratio is currently 11.9 days. Approximately 9.5% of the company’s shares are short sold.

LENZ Therapeutics Stock Up 5.8 %

Shares of NASDAQ LENZ opened at $23.39 on Monday. LENZ Therapeutics has a fifty-two week low of $14.07 and a fifty-two week high of $29.82. The firm’s 50 day simple moving average is $21.53.

Analyst Ratings Changes

Several brokerages have recently commented on LENZ. HC Wainwright began coverage on shares of LENZ Therapeutics in a research note on Monday, August 12th. They set a “buy” rating and a $38.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $35.00.

Institutional Investors Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C purchased a new stake in LENZ Therapeutics in the second quarter worth approximately $300,000. Squarepoint Ops LLC bought a new position in LENZ Therapeutics in the second quarter worth approximately $181,000. Marshall Wace LLP bought a new position in LENZ Therapeutics in the second quarter worth approximately $390,000. Renaissance Technologies LLC raised its position in 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 acquiring an additional 13,300 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in LENZ Therapeutics by 58.0% in the second quarter. Dimensional Fund Advisors LP now owns 37,190 shares of the company’s stock worth $644,000 after acquiring an additional 13,653 shares during the period. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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.