LENZ Therapeutics (NASDAQ:LENZ) Sees Unusually-High Trading Volume – Time to Buy?

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) saw unusually-strong trading volume on Wednesday . Approximately 119,272 shares changed hands during trading, a decline of 18% from the previous session’s volume of 144,909 shares.The stock last traded at $23.30 and had previously closed at $22.97.

LENZ Therapeutics Stock Performance

The business’s fifty day moving average price is $24.29 and its 200-day moving average price is $26.92.

Institutional Investors Weigh In On LENZ Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Delta Investment Management LLC bought a new position in shares of LENZ Therapeutics during the 4th quarter valued at $555,000. Rafferty Asset Management LLC purchased a new stake in LENZ Therapeutics during the fourth quarter valued at $511,000. Paradigm Biocapital Advisors LP purchased a new stake in LENZ Therapeutics during the fourth quarter valued at $22,243,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in LENZ Therapeutics by 14.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company’s stock worth $229,000 after purchasing an additional 1,005 shares during the last quarter. Finally, Granahan Investment Management LLC purchased a new position in LENZ Therapeutics in the fourth quarter worth about $1,497,000. 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.