LENZ Therapeutics (NASDAQ:LENZ) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler began coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research report report published on Monday, MarketBeat Ratings reports. The firm issued an overweight rating and a $51.00 target price on the stock.

Several other analysts have also weighed in on the company. TD Cowen assumed coverage on LENZ Therapeutics in a report on Tuesday, March 18th. They set a “buy” rating and a $60.00 price objective on the stock. Citigroup raised their price target on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, LENZ Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $46.60.

LENZ Therapeutics Stock Down 3.5 %

Shares of LENZ stock opened at $23.06 on Monday. LENZ Therapeutics has a 12 month low of $14.42 and a 12 month high of $38.93. The firm has a market cap of $635.14 million, a PE ratio of -4.83 and a beta of 0.43. The stock has a 50 day moving average of $23.51 and a 200-day moving average of $27.07.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, equities analysts predict that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LENZ. Harbor Capital Advisors Inc. increased its holdings in LENZ Therapeutics by 10.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 48,616 shares of the company’s stock valued at $1,250,000 after purchasing an additional 4,627 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of LENZ Therapeutics by 5,254.1% in the first quarter. GAMMA Investing LLC now owns 5,836 shares of the company’s stock valued at $150,000 after buying an additional 5,727 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of LENZ Therapeutics by 14.6% in the fourth quarter. Wellington Management Group LLP now owns 28,216 shares of the company’s stock valued at $815,000 after buying an additional 3,595 shares during the last quarter. California State Teachers Retirement System lifted its position in LENZ Therapeutics by 911.0% during the 4th quarter. California State Teachers Retirement System now owns 9,200 shares of the company’s stock worth $266,000 after buying an additional 8,290 shares in the last quarter. Finally, Delta Investment Management LLC bought a new stake in LENZ Therapeutics during the 4th quarter worth about $555,000. 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.