LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Average Recommendation of “Moderate Buy” by Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $56.40.

A number of equities research analysts recently weighed in on LENZ shares. HC Wainwright reissued a “buy” rating and set a $56.00 price target on shares of LENZ Therapeutics in a research note on Monday, October 27th. Raymond James Financial restated an “outperform” rating and set a $50.00 target price (up from $40.00) on shares of LENZ Therapeutics in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Wednesday, October 8th. Zacks Research cut shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup restated a “buy” rating and issued a $49.00 price target (up from $45.00) on shares of LENZ Therapeutics in a report on Thursday, July 31st.

Insider Buying and Selling at LENZ Therapeutics

In other news, insider Shawn Olsson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $26.10, for a total value of $261,000.00. Following the completion of the transaction, the insider owned 4,733 shares in the company, valued at $123,531.30. This represents a 67.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Mccollum acquired 10,500 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $22.79 per share, for a total transaction of $239,295.00. Following the completion of the acquisition, the director owned 10,500 shares of the company’s stock, valued at $239,295. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Venture Management LLC acquired a new position in shares of LENZ Therapeutics during the 3rd quarter worth about $123,758,000. Paradigm Biocapital Advisors LP raised its holdings in LENZ Therapeutics by 96.2% during the first quarter. Paradigm Biocapital Advisors LP now owns 1,511,932 shares of the company’s stock worth $38,872,000 after acquiring an additional 741,477 shares in the last quarter. Vanguard Group Inc. boosted its position in LENZ Therapeutics by 3.0% during the third quarter. Vanguard Group Inc. now owns 1,330,286 shares of the company’s stock valued at $61,965,000 after purchasing an additional 39,292 shares during the last quarter. UBS Group AG grew its stake in LENZ Therapeutics by 36.3% in the third quarter. UBS Group AG now owns 1,201,616 shares of the company’s stock valued at $55,971,000 after purchasing an additional 320,135 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of LENZ Therapeutics by 108.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock worth $32,907,000 after purchasing an additional 585,000 shares during the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

LENZ Therapeutics Trading Up 6.6%

Shares of LENZ Therapeutics stock traded up $1.84 during midday trading on Friday, reaching $29.56. The company had a trading volume of 1,008,304 shares, compared to its average volume of 1,328,871. The stock has a fifty day simple moving average of $35.65 and a 200 day simple moving average of $33.75. LENZ Therapeutics has a 1-year low of $16.53 and a 1-year high of $50.40. The company has a market capitalization of $924.93 million, a price-to-earnings ratio of -14.01 and a beta of 0.46.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, November 5th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.08. The firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $4.64 million. Sell-side analysts expect that LENZ Therapeutics will post -2.18 earnings per share for the current year.

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.