LENZ Therapeutics (NASDAQ:LENZ) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research report sent to investors on Monday, MarketBeat reports. The firm issued an overweight rating and a $51.00 target price on the stock.

LENZ has been the subject of a number of other research reports. Citigroup lifted their target price on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. TD Cowen began coverage on LENZ Therapeutics in a research note on Tuesday, March 18th. They issued a “buy” rating and a $60.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $46.60.

LENZ Therapeutics Stock Performance

Shares of NASDAQ:LENZ opened at $23.06 on Monday. LENZ Therapeutics has a one year low of $14.42 and a one year high of $38.93. The company has a market capitalization of $635.14 million, a PE ratio of -4.83 and a beta of 0.43. The stock has a fifty day moving average of $23.51 and a 200-day moving average of $27.07.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). As a group, research analysts forecast that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

Several hedge funds have recently bought and sold shares of LENZ. Harbor Capital Advisors Inc. acquired a new stake in shares of LENZ Therapeutics in the fourth quarter worth about $1,270,000. Barclays PLC lifted its holdings in LENZ Therapeutics by 273.1% in the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock worth $391,000 after purchasing an additional 12,051 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in LENZ Therapeutics by 197.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock worth $2,929,000 after purchasing an additional 81,901 shares during the period. State Street Corp grew its holdings in LENZ Therapeutics by 18.7% during the third quarter. State Street Corp now owns 289,154 shares of the company’s stock valued at $6,865,000 after purchasing an additional 45,600 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in LENZ Therapeutics during the third quarter valued at approximately $585,000. 54.32% of the stock is owned by institutional investors and hedge funds.

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.