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

Key Points

• LENZ Therapeutics has a “Moderate Buy” consensus rating from eight analysts, with five buys, two holds and one sell. The average 12-month price target is $28.80.
• Shares recently traded at $4.59, near their 12-month low of $4.53 and far below the 12-month high of $50.40, while institutional investors own 54.32% of the company.
• For its latest quarter, LENZ reported a $1.02 loss per share, narrowly beating estimates, and revenue of $5.49 million versus expectations of $2.38 million. The company is developing Phase III presbyopia treatments LNZ100 and LNZ101.

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $28.80.

Several equities analysts have commented on LENZ shares. Citigroup reissued a "buy" rating on shares of LENZ Therapeutics in a research note on Wednesday, August 12th. Zacks Research upgraded shares of LENZ Therapeutics from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Piper Sandler lowered their price objective on shares of LENZ Therapeutics from $12.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings cut LENZ Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Finally, HC Wainwright reissued a "buy" rating on shares of LENZ Therapeutics in a report on Tuesday, July 7th.

Institutional Trading of LENZ Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning acquired a new stake in shares of LENZ Therapeutics in the second quarter valued at $412,000. JPMorgan Chase & Co. grew its holdings in LENZ Therapeutics by 28.7% during the second quarter. JPMorgan Chase & Co. now owns 10,361 shares of the company's stock worth $304,000 after acquiring an additional 2,310 shares during the period. Legal & General Group Plc grew its holdings in LENZ Therapeutics by 25.7% during the second quarter. Legal & General Group Plc now owns 10,989 shares of the company's stock worth $322,000 after acquiring an additional 2,247 shares during the period. Rhumbline Advisers raised its position in LENZ Therapeutics by 35.6% in the second quarter. Rhumbline Advisers now owns 24,363 shares of the company's stock worth $714,000 after acquiring an additional 6,396 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in LENZ Therapeutics by 1,105,675.0% in the second quarter. Russell Investments Group Ltd. now owns 44,231 shares of the company's stock worth $1,296,000 after acquiring an additional 44,227 shares in the last quarter. Institutional investors own 54.32% of the company's stock.

LENZ Therapeutics Price Performance

LENZ traded down $0.09 during trading hours on Monday, hitting $4.59. 81,025 shares of the stock were exchanged, compared to its average volume of 938,973. The stock has a 50-day simple moving average of $5.45 and a 200-day simple moving average of $8.48. LENZ Therapeutics has a 12 month low of $4.53 and a 12 month high of $50.40. The stock has a market cap of $144.37 million, a price-to-earnings ratio of -1.12 and a beta of 0.65.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($1.02) earnings per share for the quarter, topping analysts' consensus estimates of ($1.05) by $0.03. The business had revenue of $5.49 million for the quarter, compared to analysts' expectations of $2.38 million. LENZ Therapeutics had a negative return on equity of 53.39% and a negative net margin of 586.74%. Sell-side analysts expect that LENZ Therapeutics will post -4.18 EPS 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.

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