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

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

Several research firms recently weighed in on LENZ. Citigroup boosted their target price on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $38.00 target price on shares of LENZ Therapeutics in a report on Thursday. TD Cowen began coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They issued a "buy" rating and a $60.00 target price on the stock. Finally, Piper Sandler began coverage on shares of LENZ Therapeutics in a report on Monday, April 14th. They issued an "overweight" rating and a $51.00 target price on the stock.

Institutional Trading of LENZ Therapeutics

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

LENZ Therapeutics Stock Performance

Shares of LENZ Therapeutics stock traded up $2.07 during midday trading on Wednesday, reaching $28.41. 10,060 shares of the company's stock traded hands, compared to its average volume of 185,746. The company has a market cap of $799.66 million, a price-to-earnings ratio of -15.76 and a beta of 0.41. The company's 50 day simple moving average is $24.56 and its 200 day simple moving average is $27.31. LENZ Therapeutics has a 52 week low of $14.42 and a 52 week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its earnings results 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. As a group, equities research analysts predict that LENZ Therapeutics will post -2.18 earnings per share for the current year.

About LENZ Therapeutics

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.