LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Consensus Rating of “Buy” from Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $46.60.

A number of equities analysts have recently issued reports on LENZ shares. Piper Sandler began coverage on LENZ Therapeutics in a research report on Monday, April 14th. They set an “overweight” rating and a $51.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of LENZ Therapeutics in a research report on Wednesday. Citigroup lifted their target price on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Finally, TD Cowen started coverage on LENZ Therapeutics in a report on Tuesday, March 18th. They set a “buy” rating and a $60.00 price target on the stock.

LENZ Therapeutics Stock Up 3.3 %

Shares of LENZ opened at $23.82 on Friday. The stock has a market cap of $656.07 million, a PE ratio of -4.99 and a beta of 0.43. LENZ Therapeutics has a 12-month low of $14.42 and a 12-month high of $38.93. The business has a 50-day simple moving average of $23.47 and a two-hundred day simple moving average of $27.08.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, equities research analysts expect that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of LENZ Therapeutics during the fourth quarter valued at about $1,270,000. Barclays PLC increased its position in LENZ Therapeutics by 273.1% in the third quarter. Barclays PLC now owns 16,463 shares of the company’s stock worth $391,000 after buying an additional 12,051 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in LENZ Therapeutics in the 3rd quarter valued at about $743,000. Charles Schwab Investment Management Inc. raised its position in shares of LENZ Therapeutics by 197.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock valued at $2,929,000 after purchasing an additional 81,901 shares during the period. Finally, State Street Corp lifted its position in shares of LENZ Therapeutics by 18.7% during the third quarter. State Street Corp now owns 289,154 shares of the company’s stock worth $6,865,000 after acquiring an additional 45,600 shares in the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

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.