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

Key Points

• LENZ Therapeutics, Inc. has received a consensus rating of "Buy" from six brokerage firms, with an average target price of $49.60.
• The company's stock recently traded at $37.85, reflecting a significant trading volume and a 12-month price range of $16.53 to $41.70.
• LENZ recently reported a quarterly EPS of ($0.53), beating analyst estimates, and had revenue of $5 million for the quarter.

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) have received an average rating of "Buy" from the six research firms that are covering the company, Marketbeat.com reports. Five equities 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 brokers that have covered the stock in the last year is $49.60.

A number of equities research analysts have commented on the company. Citigroup reiterated a "buy" rating and issued a $49.00 price target (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. HC Wainwright increased their price target on LENZ Therapeutics from $38.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Raymond James Financial increased their price target on LENZ Therapeutics from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LENZ. JPMorgan Chase & Co. raised its stake in shares of LENZ Therapeutics by 46.4% in the fourth quarter. JPMorgan Chase & Co. now owns 8,342 shares of the company's stock worth $241,000 after purchasing an additional 2,643 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of LENZ Therapeutics by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 7,504 shares of the company's stock worth $217,000 after purchasing an additional 1,608 shares during the last quarter. Legal & General Group Plc raised its stake in shares of LENZ Therapeutics by 703.5% in the fourth quarter. Legal & General Group Plc now owns 8,742 shares of the company's stock worth $252,000 after purchasing an additional 7,654 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of LENZ Therapeutics in the fourth quarter worth about $245,000. Finally, Barclays PLC raised its stake in shares of LENZ Therapeutics by 82.6% in the fourth quarter. Barclays PLC now owns 30,057 shares of the company's stock worth $867,000 after purchasing an additional 13,594 shares during the last quarter. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

LENZ Therapeutics Stock Down 5.0%

Shares of NASDAQ LENZ traded down $1.9230 during mid-day trading on Friday, reaching $36.8470. 226,703 shares of the company were exchanged, compared to its average volume of 294,041. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -19.47 and a beta of 0.42. LENZ Therapeutics has a 1 year low of $16.53 and a 1 year high of $41.70. The firm has a 50-day moving average of $32.27 and a 200 day moving average of $27.84.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.58) by $0.05. The business had revenue of $5.00 million during the quarter, compared to analysts' expectations of $5.00 million. On average, equities analysts forecast that LENZ Therapeutics will post -2.18 earnings per share 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.