LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Average Rating of “Moderate Buy” by Brokerages

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $29.80.

A number of brokerages have commented on LENZ. Piper Sandler downgraded LENZ Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $39.00 to $12.00 in a research note on Tuesday. Wall Street Zen downgraded LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings downgraded LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. William Blair restated an “outperform” rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. Finally, Bank of America decreased their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th.

LENZ Therapeutics Stock Up 0.7%

Shares of LENZ stock opened at $7.34 on Friday. The business has a 50 day moving average of $9.90 and a two-hundred day moving average of $16.57. LENZ Therapeutics has a 52 week low of $6.83 and a 52 week high of $50.40. The company has a market cap of $230.14 million, a P/E ratio of -2.04 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Monday, May 11th. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. The company had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.76 million. Analysts expect that LENZ Therapeutics will post -4.47 EPS for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Affinity Asset Advisors LLC boosted its position in shares of LENZ Therapeutics by 200.0% during the first quarter. Affinity Asset Advisors LLC now owns 100,000 shares of the company’s stock worth $915,000 after buying an additional 200,000 shares during the period. KBC Group NV acquired a new position in shares of LENZ Therapeutics during the first quarter worth approximately $827,000. C WorldWide Group Holding A S boosted its position in shares of LENZ Therapeutics by 40.0% during the first quarter. C WorldWide Group Holding A S now owns 700,000 shares of the company’s stock worth $6,405,000 after buying an additional 200,000 shares during the period. Bank of New York Mellon Corp boosted its position in shares of LENZ Therapeutics by 13.0% during the first quarter. Bank of New York Mellon Corp now owns 49,797 shares of the company’s stock worth $456,000 after buying an additional 5,742 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of LENZ Therapeutics during the first quarter worth approximately $204,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.

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.