Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) rose 8.7% during trading on Wednesday . The stock traded as high as $33.96 and last traded at $34.08. Approximately 232,949 shares traded hands during trading, an increase of 2% from the average daily volume of 229,438 shares. The stock had previously closed at $31.36.
Wall Street Analysts Forecast Growth
LENZ has been the topic of several analyst reports. Piper Sandler initiated coverage on LENZ Therapeutics in a report on Monday, April 14th. They set an "overweight" rating and a $51.00 price target on the stock. TD Cowen initiated coverage on LENZ Therapeutics in a report on Tuesday, March 18th. They set a "buy" rating and a $60.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $38.00 price target on shares of LENZ Therapeutics in a report on Thursday, May 8th. Finally, Citigroup increased their price target on LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, LENZ Therapeutics currently has a consensus rating of "Buy" and an average price target of $46.60.
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LENZ Therapeutics Stock Down 2.2%
The company has a market capitalization of $958.51 million, a P/E ratio of -19.48 and a beta of 0.42. The stock has a fifty day simple moving average of $29.34 and a 200-day simple moving average of $26.40.
LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.02. Analysts predict that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current fiscal year.
Hedge Funds Weigh In On LENZ Therapeutics
Several institutional investors have recently modified their holdings of the stock. Paradigm Biocapital Advisors LP grew its position in shares of LENZ Therapeutics by 96.2% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 1,511,932 shares of the company's stock worth $38,872,000 after buying an additional 741,477 shares during the period. Vanguard Group Inc. grew its position in shares of LENZ Therapeutics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 1,199,462 shares of the company's stock worth $30,838,000 after buying an additional 21,015 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of LENZ Therapeutics by 83.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock worth $23,760,000 after buying an additional 374,326 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of LENZ Therapeutics during the 1st quarter worth about $13,825,000. Finally, Granahan Investment Management LLC grew its position in shares of LENZ Therapeutics by 239.8% during the 1st quarter. Granahan Investment Management LLC now owns 176,166 shares of the company's stock worth $4,529,000 after buying an additional 124,324 shares during the period. 54.32% of the stock is currently owned by institutional investors and hedge funds.
LENZ Therapeutics Company Profile
(
Get Free Report)
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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