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

Key Points

• Analyst sentiment is mixed: Eight brokerages give LENZ Therapeutics an average “Hold” rating, with five buys, one hold and two sells. The average 12-month price target is $29.80, though recent targets have been reduced significantly.
• LENZ shares fell 2.4% to $5.58 and remain far below their 52-week high of $50.40. The company reported a quarterly loss of $1.32 per share, worse than the $1.10 consensus estimate, despite revenue exceeding expectations.
• Institutional investors own 54.32% of the stock, with several funds increasing their positions. LENZ is developing Phase III treatments for presbyopia, including LNZ100 and LNZ101.

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) have received an average rating of "Hold" from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $29.80.

LENZ has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating on shares of LENZ Therapeutics in a research report on Tuesday, July 7th. Citigroup lowered their price objective on LENZ Therapeutics from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Piper Sandler downgraded shares of LENZ Therapeutics from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $39.00 to $12.00 in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of LENZ Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 17th. Finally, Zacks Research downgraded shares of LENZ Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th.

LENZ Therapeutics Trading Down 2.4%

Shares of NASDAQ:LENZ traded down $0.14 during mid-day trading on Thursday, reaching $5.58. The company had a trading volume of 35,760 shares, compared to its average volume of 956,480. LENZ Therapeutics has a one year low of $4.68 and a one year high of $50.40. The company's 50-day moving average price is $6.20 and its 200-day moving average price is $10.05. The firm has a market cap of $174.93 million, a price-to-earnings ratio of -1.55 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.22). LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. The firm had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.76 million. On average, research analysts anticipate that LENZ Therapeutics will post -4.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Aberdeen Group plc boosted its holdings in shares of LENZ Therapeutics by 274.4% in the fourth quarter. Aberdeen Group plc now owns 489,432 shares of the company's stock worth $7,831,000 after acquiring an additional 358,706 shares during the period. C WorldWide Group Holding A S bought a new stake in shares of LENZ Therapeutics during the 4th quarter valued at $8,000,000. UBS Group AG raised its stake in shares of LENZ Therapeutics by 30.8% during the 4th quarter. UBS Group AG now owns 1,571,738 shares of the company's stock valued at $25,148,000 after purchasing an additional 370,122 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in LENZ Therapeutics by 290.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 158,715 shares of the company's stock worth $1,452,000 after purchasing an additional 118,100 shares in the last quarter. Finally, Sovran Advisors LLC lifted its holdings in LENZ Therapeutics by 49.8% during the 4th quarter. Sovran Advisors LLC now owns 160,134 shares of the company's stock worth $2,562,000 after purchasing an additional 53,214 shares in the last quarter. 54.32% of the stock is owned by 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.

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