LENZ Therapeutics (NASDAQ:LENZ) Given New $26.00 Price Target at Citigroup

LENZ Therapeutics (NASDAQ:LENZ) had its price target lowered by research analysts at Citigroup from $52.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 198.17% from the company’s previous close.

A number of other research analysts also recently commented on LENZ. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Bank of America dropped their price objective on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.60.

LENZ Therapeutics Stock Down 3.9%

LENZ stock traded down $0.35 during midday trading on Thursday, reaching $8.72. The company had a trading volume of 658,473 shares, compared to its average volume of 1,043,679. The stock has a 50 day moving average price of $14.14 and a 200 day moving average price of $24.40. LENZ Therapeutics has a fifty-two week low of $8.61 and a fifty-two week high of $50.40. The firm has a market capitalization of $272.85 million, a PE ratio of -3.08 and a beta of 0.52.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings results on Tuesday, March 24th. The company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.25). The firm had revenue of $1.59 million during the quarter, compared to analyst estimates of $3.09 million. Research analysts predict that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its position in LENZ Therapeutics by 4.3% during the 2nd quarter. Intech Investment Management LLC now owns 9,251 shares of the company’s stock worth $271,000 after acquiring an additional 380 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after purchasing an additional 477 shares in the last quarter. Quarry LP acquired a new stake in LENZ Therapeutics in the third quarter worth about $27,000. Ameritas Investment Partners Inc. lifted its holdings in LENZ Therapeutics by 47.6% in the second quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock worth $53,000 after purchasing an additional 586 shares during the period. Finally, Bfsg LLC bought a new position in LENZ Therapeutics in the 3rd quarter valued at about $30,000. 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.