LENZ Therapeutics' (LENZ) Buy Rating Reiterated at HC Wainwright

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $38.00 price objective on the stock. HC Wainwright's price target points to a potential upside of 31.44% from the company's previous close. HC Wainwright also issued estimates for LENZ Therapeutics' FY2029 earnings at $1.52 EPS.

LENZ has been the subject of several other reports. Piper Sandler assumed coverage on LENZ Therapeutics in a research report on Monday, April 14th. They set an "overweight" rating and a $51.00 price target for the company. TD Cowen started coverage on shares of LENZ Therapeutics in a research report on Tuesday, March 18th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Citigroup boosted their target price on LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $46.60.

LENZ Therapeutics Price Performance

Shares of NASDAQ:LENZ traded down $0.46 during midday trading on Thursday, hitting $28.91. The company had a trading volume of 67,177 shares, compared to its average volume of 186,123. LENZ Therapeutics has a twelve month low of $14.42 and a twelve month high of $38.93. The stock has a market cap of $813.70 million, a price-to-earnings ratio of -16.33 and a beta of 0.41. The business's 50-day simple moving average is $24.69 and its 200-day simple moving average is $27.32.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.02. As a group, sell-side analysts forecast that LENZ Therapeutics will post -2.18 EPS for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

A number of large investors have recently modified their holdings of LENZ. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of LENZ Therapeutics during the 4th quarter worth approximately $29,000. KLP Kapitalforvaltning AS acquired a new stake in shares of LENZ Therapeutics in the 4th quarter worth approximately $46,000. Tower Research Capital LLC TRC grew its holdings in shares of LENZ Therapeutics by 162.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock worth $54,000 after acquiring an additional 1,151 shares during the period. Virtus ETF Advisers LLC acquired a new stake in shares of LENZ Therapeutics in the 4th quarter worth approximately $67,000. Finally, GAMMA Investing LLC grew its holdings in shares of LENZ Therapeutics by 5,254.1% in the 1st quarter. GAMMA Investing LLC now owns 5,836 shares of the company's stock worth $150,000 after acquiring an additional 5,727 shares during the period. 54.32% of the stock is owned by hedge funds and other institutional investors.

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.