LENZ Therapeutics (NASDAQ:LENZ) Price Target Cut to $48.00 by Analysts at HC Wainwright

Key Points

• HC Wainwright cut its price target on LENZ from $56 to $48 while maintaining a "buy" rating, implying roughly a 373.8% upside from the stock's recent open around $10.13.
• Analyst views are mixed — six Buys, one Hold and one Sell — yielding a MarketBeat consensus of "Moderate Buy" with an average target of $44, and several firms (BofA, Citigroup, Weiss, Wall Street Zen) recently trimmed ratings or targets.
• LENZ delivered a quarterly miss (EPS -$1.16 vs. -$0.91 expected; revenue $1.59M vs. $3.09M expected), has a market cap of about $317.6M and a 52-week range of $8.25–$50.40, underscoring volatility and execution risk.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) had its price objective cut by research analysts at HC Wainwright from $56.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 373.84% from the stock's current price.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of LENZ Therapeutics in a research note on Thursday, January 22nd. Bank of America lowered their price objective on LENZ Therapeutics from $35.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. William Blair restated an "outperform" rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Wall Street Zen cut LENZ Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. Finally, Citigroup lowered their price objective on LENZ Therapeutics from $52.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, LENZ Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $44.00.

LENZ Therapeutics Stock Performance

Shares of NASDAQ LENZ opened at $10.13 on Tuesday. The firm has a market cap of $317.58 million, a price-to-earnings ratio of -3.60 and a beta of 0.66. The business's 50-day simple moving average is $11.21 and its 200-day simple moving average is $20.10. LENZ Therapeutics has a 52 week low of $8.25 and a 52 week high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its quarterly earnings data on Tuesday, March 24th. The company reported ($1.16) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.25). The firm had revenue of $1.59 million during the quarter, compared to analyst estimates of $3.09 million. As a group, equities research analysts forecast that LENZ Therapeutics will post -3.66 earnings per share for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

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

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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