LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Average Rating of "Buy" from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) has been given a consensus recommendation of "Buy" by the six analysts that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.60.

Several equities research analysts recently commented on LENZ shares. Piper Sandler began coverage on shares of LENZ Therapeutics in a research note on Monday, April 14th. They set an "overweight" rating and a $51.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price objective on shares of LENZ Therapeutics in a report on Thursday, May 8th. 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. Finally, TD Cowen assumed coverage on LENZ Therapeutics in a research report on Tuesday, March 18th. They issued a "buy" rating and a $60.00 target price for the company.

LENZ Therapeutics Trading Down 1.9%

LENZ stock traded down $0.58 during trading on Friday, hitting $29.19. 83,329 shares of the company's stock were exchanged, compared to its average volume of 183,889. The business has a 50-day moving average price of $25.92 and a two-hundred day moving average price of $27.04. The stock has a market capitalization of $821.58 million, a price-to-earnings ratio of -16.49 and a beta of 0.41. LENZ Therapeutics has a 52-week low of $14.49 and a 52-week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.02. On average, equities research analysts anticipate that LENZ Therapeutics will post -2.18 earnings per share for the current fiscal year.

Institutional Trading of LENZ Therapeutics

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock valued at $158,000 after purchasing an additional 935 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of LENZ Therapeutics during the fourth quarter worth about $168,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of LENZ Therapeutics during the fourth quarter worth about $29,000. Rhumbline Advisers grew its holdings in shares of LENZ Therapeutics by 6.2% during the fourth quarter. Rhumbline Advisers now owns 18,754 shares of the company's stock worth $541,000 after buying an additional 1,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in LENZ Therapeutics by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 127,196 shares of the company's stock valued at $3,672,000 after acquiring an additional 3,825 shares during the period. Institutional investors and hedge funds own 54.32% of the company's stock.

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.