LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Average Rating of "Buy" by Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) has earned an average recommendation of "Buy" from the six analysts that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $46.60.

LENZ has been the topic of a number of research reports. Piper Sandler initiated coverage on shares of LENZ Therapeutics in a research report on Monday, April 14th. They set an "overweight" rating and a $51.00 target price on the stock. TD Cowen initiated coverage on shares of LENZ Therapeutics in a research report on Tuesday, March 18th. They set a "buy" rating and a $60.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research report on Thursday, May 8th. Finally, Citigroup increased their price target on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, March 20th.

Institutional Trading of LENZ Therapeutics

A number of hedge funds have recently modified their holdings of LENZ. Paradigm Biocapital Advisors LP increased its position in shares of LENZ Therapeutics by 96.2% during the first quarter. Paradigm Biocapital Advisors LP now owns 1,511,932 shares of the company's stock worth $38,872,000 after acquiring an additional 741,477 shares in the last quarter. Vanguard Group Inc. increased its position in shares of LENZ Therapeutics by 1.8% during the first quarter. Vanguard Group Inc. now owns 1,199,462 shares of the company's stock worth $30,838,000 after acquiring an additional 21,015 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of LENZ Therapeutics by 83.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock worth $23,760,000 after acquiring an additional 374,326 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of LENZ Therapeutics during the first quarter worth $13,825,000. Finally, Granahan Investment Management LLC increased its position in shares of LENZ Therapeutics by 239.8% during the first quarter. Granahan Investment Management LLC now owns 176,166 shares of the company's stock worth $4,529,000 after acquiring an additional 124,324 shares in the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock traded up $0.07 during trading hours on Thursday, reaching $30.18. 1,292,734 shares of the company's stock traded hands, compared to its average volume of 191,084. LENZ Therapeutics has a fifty-two week low of $16.54 and a fifty-two week high of $38.93. The firm has a market capitalization of $849.57 million, a price-to-earnings ratio of -17.05 and a beta of 0.42. The firm's 50 day moving average is $28.58 and its 200-day moving average is $26.34.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.02. Analysts predict that LENZ Therapeutics will post -2.18 EPS for the current 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.