LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $35.40 Average Target Price from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.67.

LENZ has been the subject of several recent research reports. Citigroup raised their price objective on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. TD Cowen began coverage on LENZ Therapeutics in a research note on Tuesday, March 18th. They issued a “buy” rating and a $60.00 price objective for the company.

Institutional Trading of LENZ Therapeutics

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in LENZ Therapeutics in the fourth quarter valued at $29,000. SG Americas Securities LLC lifted its stake in shares of LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock valued at $158,000 after purchasing an additional 935 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in LENZ Therapeutics by 14.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company’s stock worth $229,000 after buying an additional 1,005 shares in the last quarter. Rhumbline Advisers boosted its holdings in LENZ Therapeutics by 6.2% during the fourth quarter. Rhumbline Advisers now owns 18,754 shares of the company’s stock worth $541,000 after buying an additional 1,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in LENZ Therapeutics by 162.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company’s stock worth $54,000 after buying an additional 1,151 shares during the period. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

LENZ Therapeutics Stock Up 0.6 %

NASDAQ:LENZ opened at $26.66 on Tuesday. LENZ Therapeutics has a 52 week low of $14.42 and a 52 week high of $38.93. The stock’s fifty day moving average is $24.22 and its two-hundred day moving average is $27.10. The stock has a market capitalization of $733.18 million, a price-to-earnings ratio of -5.59 and a beta of 0.58.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). On average, sell-side analysts expect that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

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.