Weiss Ratings Reiterates Sell (D-) Rating for LENZ Therapeutics (NASDAQ:LENZ)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for LENZ Therapeutics, indicating concerns about the company's stock performance.
• Multiple analysts have, however, issued positive outlooks for LENZ, with Raymond James Financial and Citigroup raising their price targets and assigning "Outperform" and "Buy" ratings respectively.
• The stock opened at $48.60, with an average target price from analysts set at $49.60, suggesting potential upside despite the mixed ratings.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

LENZ has been the topic of a number of other reports. Raymond James Financial raised their price objective on LENZ Therapeutics from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Citigroup reiterated a "buy" rating and issued a $49.00 target price (up previously from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. Finally, HC Wainwright increased their target price on LENZ Therapeutics from $38.00 to $48.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $49.60.

LENZ Therapeutics Price Performance

LENZ Therapeutics stock opened at $48.60 on Wednesday. The stock's 50-day moving average is $39.82 and its 200-day moving average is $32.25. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -25.58 and a beta of 0.50. LENZ Therapeutics has a 12 month low of $16.53 and a 12 month high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.58) by $0.05. The firm had revenue of $5.00 million during the quarter, compared to analysts' expectations of $5.00 million. Research analysts anticipate that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

A number of hedge funds have recently bought and sold shares of LENZ. Osaic Holdings Inc. grew its stake in LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company's stock valued at $34,000 after purchasing an additional 1,116 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in LENZ Therapeutics by 51.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company's stock valued at $41,000 after purchasing an additional 477 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in LENZ Therapeutics by 47.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company's stock valued at $53,000 after purchasing an additional 586 shares in the last quarter. BNP Paribas Financial Markets grew its stake in LENZ Therapeutics by 93.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,951 shares of the company's stock valued at $57,000 after purchasing an additional 944 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in LENZ Therapeutics during the 1st quarter valued at approximately $119,000. Institutional investors and hedge funds 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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