LENZ Therapeutics, Inc. (NASDAQ:LENZ) Stock Has Average Target Price of $28.80

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.00.

LENZ has been the topic of several research analyst reports. Piper Sandler cut their price objective on LENZ Therapeutics from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Monday. Citigroup reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research report on Wednesday, August 12th. Zacks Research raised LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings downgraded shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a research note on Tuesday, July 7th.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of LENZ Therapeutics in the fourth quarter worth about $59,000. Bank of New York Mellon Corp grew its stake in 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 valued at $456,000 after acquiring an additional 5,742 shares in the last quarter. Aristides Capital LLC purchased a new position in LENZ Therapeutics during the fourth quarter valued at approximately $168,000. Janney Montgomery Scott LLC purchased a new position in LENZ Therapeutics during the first quarter valued at approximately $99,000. Finally, Deutsche Bank AG bought a new stake in LENZ Therapeutics during the 2nd quarter worth approximately $93,000. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Stock Up 0.9%

Shares of NASDAQ LENZ opened at $3.30 on Tuesday. LENZ Therapeutics has a twelve month low of $3.21 and a twelve month high of $39.17. The stock’s 50 day moving average price is $4.38 and its 200-day moving average price is $6.21. The company has a market capitalization of $103.69 million, a PE ratio of -0.81 and a beta of 0.64.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Tuesday, August 11th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.03. The company had revenue of $5.49 million during the quarter, compared to analyst estimates of $2.38 million. LENZ Therapeutics had a negative return on equity of 53.39% and a negative net margin of 586.74%. As a group, research analysts expect that LENZ Therapeutics will post -4.13 EPS for the current fiscal year.

About LENZ Therapeutics

LENZ Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing pharmaceutical therapies for presbyopia, the age-related loss of near vision. The company’s approach is designed to improve near visual acuity by using aceclidine, a miotic agent intended to create a pinhole effect that can increase depth of focus while preserving distance vision.

LENZ’s lead product candidate, VIZZ, is an aceclidine hydrochloride ophthalmic solution developed as a once-daily prescription eye drop for adults with presbyopia.