LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $45.60 Average PT from Brokerages

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $45.60.

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a report on Monday, December 15th. Bank of America lowered their price target on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Thursday, January 22nd. William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a report on Tuesday, March 10th. Finally, Citigroup cut their price objective on LENZ Therapeutics from $52.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, March 26th.

LENZ Therapeutics Trading Up 3.4%

Shares of NASDAQ LENZ opened at $9.67 on Friday. LENZ Therapeutics has a 12 month low of $8.25 and a 12 month high of $50.40. The firm has a market capitalization of $303.15 million, a price-to-earnings ratio of -3.44 and a beta of 0.66. The business has a 50-day moving average of $12.92 and a 200-day moving average of $23.20.

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

Institutional Trading of LENZ Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Venture Management LLC purchased a new position in shares of LENZ Therapeutics during the third quarter worth approximately $123,758,000. Price T Rowe Associates Inc. MD boosted its stake in shares of LENZ Therapeutics by 307.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company’s stock valued at $16,378,000 after purchasing an additional 772,411 shares in the last quarter. First Light Asset Management LLC purchased a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at $32,282,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of LENZ Therapeutics by 108.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after purchasing an additional 585,000 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in LENZ Therapeutics by 6,756.1% in the 3rd quarter. Franklin Resources Inc. now owns 587,084 shares of the company’s stock worth $27,346,000 after purchasing an additional 578,521 shares during the period. Hedge funds and other institutional investors 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.