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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $29.80.

A number of analysts recently commented on the company. Wall Street Zen downgraded LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Piper Sandler cut LENZ Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $39.00 to $12.00 in a research report on Tuesday, May 12th. HC Wainwright reduced their price objective on LENZ Therapeutics from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Citigroup decreased their target price on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. 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 report on Wednesday, March 25th.

Institutional Trading of LENZ Therapeutics

A number of large investors have recently added to or reduced their stakes in LENZ. Quarry LP purchased a new stake in LENZ Therapeutics during the third quarter worth about $27,000. State of Wyoming purchased a new stake in LENZ Therapeutics during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in LENZ Therapeutics during the fourth quarter worth about $32,000. Osaic Holdings Inc. increased its holdings in LENZ Therapeutics by 2,146.2% during the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after buying an additional 1,116 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after buying an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock opened at $6.79 on Wednesday. LENZ Therapeutics has a fifty-two week low of $6.52 and a fifty-two week high of $50.40. The firm’s 50-day simple moving average is $8.62 and its 200 day simple moving average is $14.15. The stock has a market cap of $212.87 million, a PE ratio of -1.89 and a beta of 0.58.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Monday, May 11th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.22). LENZ Therapeutics had a negative return on equity of 46.82% and a negative net margin of 519.30%.The firm had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.76 million. As a group, analysts predict that LENZ Therapeutics will post -4.61 EPS for the current fiscal year.

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.