LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Average Rating of “Buy” from Brokerages

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $41.67.

A number of research analysts have issued reports on LENZ shares. Citigroup upped their price objective on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. TD Cowen started coverage on shares of LENZ Therapeutics in a research note on Tuesday, March 18th. They set a “buy” rating and a $60.00 target price on the stock.

Institutional Investors Weigh In On LENZ Therapeutics

A number of large investors have recently modified their holdings of LENZ. Harbor Capital Advisors Inc. purchased a new position in shares of LENZ Therapeutics during the 4th quarter worth $1,270,000. Parkman Healthcare Partners LLC purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter valued at approximately $3,308,000. Barclays PLC grew its position in LENZ Therapeutics by 273.1% in the third quarter. Barclays PLC now owns 16,463 shares of the company’s stock worth $391,000 after acquiring an additional 12,051 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in LENZ Therapeutics during the third quarter worth $743,000. Finally, Charles Schwab Investment Management Inc. raised its position in LENZ Therapeutics by 197.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock valued at $2,929,000 after purchasing an additional 81,901 shares during the period. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Stock Up 0.6 %

LENZ opened at $26.66 on Tuesday. The firm’s 50-day moving average price is $24.22 and its 200-day moving average price is $27.10. The company has a market cap of $733.18 million, a P/E ratio of -5.59 and a beta of 0.58. LENZ Therapeutics has a 52-week low of $14.42 and a 52-week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, research analysts anticipate that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

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.