LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Consensus Recommendation of “Hold” from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has earned an average recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $29.80.

Several research firms have recently weighed in on LENZ. Zacks Research cut shares of LENZ Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Weiss Ratings raised LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Citigroup reduced 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. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research note on Tuesday, July 7th. Finally, Piper Sandler cut LENZ Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $12.00 in a report on Tuesday, May 12th.

Institutional Investors Weigh In On LENZ Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of LENZ. Tower Research Capital LLC TRC lifted its position 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 valued at $41,000 after purchasing an additional 477 shares during the last quarter. Quarry LP bought a new position in shares of LENZ Therapeutics in the 3rd quarter worth $27,000. JPMorgan Chase & Co. increased its holdings in shares of LENZ Therapeutics by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,222 shares of the company’s stock worth $523,000 after buying an additional 861 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of LENZ Therapeutics by 93.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,951 shares of the company’s stock valued at $57,000 after buying an additional 944 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock valued at $34,000 after buying an additional 1,116 shares in the last quarter. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Stock Down 2.4%

NASDAQ:LENZ traded down $0.14 during mid-day trading on Thursday, hitting $5.58. 35,760 shares of the stock traded hands, compared to its average volume of 956,480. The business’s 50-day moving average price is $6.20 and its 200 day moving average price is $10.05. The company has a market cap of $174.93 million, a PE ratio of -1.55 and a beta of 0.62. LENZ Therapeutics has a 12-month low of $4.68 and a 12-month high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Monday, May 11th. The company reported ($1.32) earnings per share (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 during the quarter, compared to analysts’ expectations of $1.76 million. Analysts anticipate that LENZ Therapeutics will post -4.63 earnings per share for the current fiscal year.

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.