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

Key Points

• LENZ Therapeutics has received an average rating of "Moderate Buy" from six brokerage firms, with five analysts recommending a buy while one suggested selling the stock.
• The average price target for LENZ stock among analysts is $49.60, reflecting recent upward adjustments from several firms including Citigroup and HC Wainwright.
• Institutional investors hold 54.32% of LENZ's stock, with notable increases in positions by Paradigm Biocapital Advisors and Adage Capital Partners in recent months.

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $49.60.

Several analysts have recently issued reports on LENZ shares. Raymond James Financial upped their price objective on LENZ Therapeutics from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Citigroup restated a "buy" rating and issued a $49.00 price objective (up from $45.00) on shares of LENZ Therapeutics in a report on Thursday, July 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of LENZ Therapeutics in a report on Saturday, September 27th. Finally, HC Wainwright raised their price objective on LENZ Therapeutics from $38.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 28th.

LENZ Therapeutics Trading Up 0.9%

LENZ stock traded up $0.42 during trading on Friday, hitting $48.74. 325,929 shares of the company's stock were exchanged, compared to its average volume of 415,520. The business has a 50-day moving average price of $38.87 and a two-hundred day moving average price of $31.82. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -25.65 and a beta of 0.50. LENZ Therapeutics has a 52-week low of $16.53 and a 52-week high of $50.40.

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, topping the consensus estimate of ($0.58) by $0.05. The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $5.00 million. On average, equities research analysts anticipate that LENZ Therapeutics will post -2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LENZ. Paradigm Biocapital Advisors LP raised 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 purchasing an additional 741,477 shares during the period. Vanguard Group Inc. grew its stake in LENZ Therapeutics by 1.8% in the first quarter. Vanguard Group Inc. now owns 1,199,462 shares of the company's stock valued at $30,838,000 after purchasing an additional 21,015 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of LENZ Therapeutics by 108.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company's stock worth $32,907,000 after acquiring an additional 585,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of LENZ Therapeutics by 15.5% during the 2nd quarter. Geode Capital Management LLC now owns 416,122 shares of the company's stock worth $12,198,000 after acquiring an additional 55,730 shares in the last quarter. Finally, Saturn V Capital Management LP bought a new stake in LENZ Therapeutics during the 2nd quarter valued at approximately $10,033,000. 54.32% of the stock is currently 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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