LENZ Therapeutics (NASDAQ:LENZ) Shares Gap Up - What's Next?

Key Points

• LENZ Therapeutics shares opened at $33.35 after a gap up from its previous closing price of $31.62, with a recent trading price around $33.19 and a volume of 89,687 shares.
• Analysts have a favorable outlook for LENZ, with five analysts giving "buy" ratings and a consensus target price of $48.60, supported by Piper Sandler's "overweight" rating and a price objective of $51.00.
• LENZ Therapeutics is currently working on therapies in Phase III clinical trials aimed at improving vision, specifically targeting presbyopia.

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $31.62, but opened at $33.35. LENZ Therapeutics shares last traded at $33.19, with a volume of 89,687 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LENZ shares. Piper Sandler assumed coverage on shares of LENZ Therapeutics in a research note on Monday, April 14th. They issued an "overweight" rating and a $51.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $48.00 price target (up from $38.00) on shares of LENZ Therapeutics in a report on Monday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $48.60.

LENZ Therapeutics Price Performance

The business's 50 day moving average is $30.79 and its two-hundred day moving average is $26.73. The firm has a market capitalization of $902.07 million, a PE ratio of -18.10 and a beta of 0.42.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.02. Analysts expect that LENZ Therapeutics, Inc. will post -2.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new position in LENZ Therapeutics during the 4th quarter valued at about $46,000. Tower Research Capital LLC TRC increased its position in LENZ Therapeutics by 162.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock valued at $54,000 after purchasing an additional 1,151 shares during the period. Virtus ETF Advisers LLC purchased a new position in LENZ Therapeutics during the 4th quarter valued at $67,000. Banque Transatlantique SA purchased a new position in LENZ Therapeutics during the 1st quarter valued at $119,000. Finally, GAMMA Investing LLC increased its position in LENZ Therapeutics by 5,254.1% during the 1st quarter. GAMMA Investing LLC now owns 5,836 shares of the company's stock valued at $150,000 after purchasing an additional 5,727 shares during the period. Hedge funds and other 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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