LENZ Therapeutics (NASDAQ:LENZ) Coverage Initiated at Piper Sandler

Piper Sandler started coverage on shares of LENZ Therapeutics (NASDAQ:LENZ - Free Report) in a report issued on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $51.00 price target on the stock.

Several other research analysts also recently commented on LENZ. TD Cowen began coverage on LENZ Therapeutics in a research note on Tuesday, March 18th. They issued a "buy" rating and a $60.00 price objective on the stock. Citigroup raised their price objective on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $46.60.

LENZ Therapeutics Trading Up 3.3 %

LENZ Therapeutics stock traded up $0.76 during trading hours on Monday, hitting $23.82. 218,555 shares of the stock traded hands, compared to its average volume of 181,376. The company has a market cap of $656.07 million, a PE ratio of -4.99 and a beta of 0.43. LENZ Therapeutics has a one year low of $14.42 and a one year high of $38.93. The firm's 50-day moving average price is $23.47 and its two-hundred day moving average price is $27.08.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). On average, sell-side analysts expect that LENZ Therapeutics will post -2.18 earnings per share for the current fiscal year.

Institutional Trading of LENZ Therapeutics

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of LENZ Therapeutics by 197.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company's stock worth $2,929,000 after purchasing an additional 81,901 shares in the last quarter. State Street Corp increased its stake in LENZ Therapeutics by 18.7% during the 3rd quarter. State Street Corp now owns 289,154 shares of the company's stock valued at $6,865,000 after purchasing an additional 45,600 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of LENZ Therapeutics in the third quarter worth $585,000. Jane Street Group LLC purchased a new stake in shares of LENZ Therapeutics during the third quarter valued at $286,000. Finally, Barclays PLC raised its stake in LENZ Therapeutics by 273.1% in the 3rd quarter. Barclays PLC now owns 16,463 shares of the company's stock worth $391,000 after acquiring an additional 12,051 shares during the last quarter. 54.32% of the stock is owned by hedge funds and other institutional investors.

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.