LENZ Therapeutics (NASDAQ:LENZ) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of LENZ Therapeutics (NASDAQ:LENZ) from a hold rating to a strong sell rating in a research report report published on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. 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, May 12th. Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Citigroup cut their price target on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings upgraded LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Finally, Bank of America lowered their price objective 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. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, LENZ Therapeutics presently has an average rating of “Hold” and a consensus target price of $29.80.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock opened at $4.88 on Wednesday. LENZ Therapeutics has a 1 year low of $4.68 and a 1 year high of $50.40. The firm’s 50-day moving average is $6.65 and its 200-day moving average is $10.73. The company has a market cap of $152.99 million, a P/E ratio of -1.36 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). The business had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.76 million. LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. As a group, sell-side analysts predict that LENZ Therapeutics will post -4.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of LENZ Therapeutics in the third quarter valued at approximately $27,000. State of Wyoming acquired a new position in shares of LENZ Therapeutics during the fourth quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of LENZ Therapeutics during the fourth quarter worth approximately $32,000. Osaic Holdings Inc. grew its holdings in LENZ Therapeutics by 2,146.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after buying an additional 1,116 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in LENZ Therapeutics by 51.4% in the 2nd 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 in the last quarter. Institutional investors own 54.32% of the company’s stock.

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.