LENZ Therapeutics (NASDAQ:LENZ) Price Target Raised to $40.00 at Raymond James Financial

Key Points

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LENZ Therapeutics (NASDAQ:LENZ - Free Report) had its price target raised by Raymond James Financial from $39.00 to $40.00 in a research report report published on Thursday,Benzinga reports. Raymond James Financial currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on the company. Piper Sandler assumed coverage on LENZ Therapeutics in a research report on Monday, April 14th. They set an "overweight" rating and a $51.00 price objective for the company. Citigroup reissued a "buy" rating and set a $49.00 price objective (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday. Finally, HC Wainwright restated a "buy" rating and set a $48.00 target price (up previously from $38.00) on shares of LENZ Therapeutics in a research report on Monday, July 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, LENZ Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $49.60.

LENZ Therapeutics Stock Up 0.6%

NASDAQ:LENZ traded up $0.19 on Thursday, reaching $29.96. 1,569,366 shares of the company's stock traded hands, compared to its average volume of 278,602. The stock has a 50-day simple moving average of $31.03 and a 200-day simple moving average of $26.95. The firm has a market cap of $854.46 million, a PE ratio of -15.77 and a beta of 0.42. LENZ Therapeutics has a 12 month low of $16.53 and a 12 month high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.58) by $0.05. The business had revenue of $5.00 million for the quarter, compared to the consensus estimate of $5.00 million. On average, equities analysts anticipate that LENZ Therapeutics will post -2.18 earnings per share for the current year.

Institutional Trading of LENZ Therapeutics

A number of large investors have recently modified their holdings of LENZ. Paradigm Biocapital Advisors LP purchased a new stake in shares of LENZ Therapeutics in the fourth quarter valued at approximately $22,243,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of LENZ Therapeutics in the first quarter valued at approximately $13,825,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of LENZ Therapeutics by 83.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock valued at $23,760,000 after purchasing an additional 374,326 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of LENZ Therapeutics by 239.8% in the first quarter. Granahan Investment Management LLC now owns 176,166 shares of the company's stock valued at $4,529,000 after purchasing an additional 124,324 shares during the period. Finally, Scoggin Management LP purchased a new stake in shares of LENZ Therapeutics in the first quarter valued at approximately $2,571,000. Hedge funds and other institutional investors own 54.32% of the company's stock.

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.