LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $56.40.

Several analysts have commented on LENZ shares. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target (up previously from $40.00) on shares of LENZ Therapeutics in a report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Wednesday, October 8th. Zacks Research downgraded shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a report on Monday, December 15th. Finally, Piper Sandler upped their price objective on LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a report on Friday, October 10th.

Insiders Place Their Bets

In other news, Director James W. Mccollum acquired 10,500 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $22.79 per share, for a total transaction of $239,295.00. Following the acquisition, the director directly owned 10,500 shares in the company, valued at $239,295. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel R. Chevallard acquired 2,198 shares of LENZ Therapeutics stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $22.76 per share, for a total transaction of $50,026.48. Following the completion of the purchase, the chief financial officer directly owned 5,386 shares in the company, valued at approximately $122,585.36. This represents a 68.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LENZ Therapeutics

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new position in shares of LENZ Therapeutics in the 3rd quarter valued at $27,000. Bfsg LLC purchased a new stake in LENZ Therapeutics during the 3rd quarter worth $30,000. Osaic Holdings Inc. increased its holdings in LENZ Therapeutics by 2,146.2% in 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 raised its position in LENZ Therapeutics by 51.4% in the second 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 during the period. Finally, Ameritas Investment Partners Inc. raised its position in LENZ Therapeutics by 47.6% in the second 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 during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Stock Down 2.4%

Shares of LENZ Therapeutics stock opened at $14.87 on Friday. LENZ Therapeutics has a fifty-two week low of $14.84 and a fifty-two week high of $50.40. The firm has a market cap of $465.28 million, a PE ratio of -7.05 and a beta of 0.50. The business’s fifty day moving average is $22.71 and its two-hundred day moving average is $31.95.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.08. The business had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $4.64 million. Equities research analysts anticipate that LENZ Therapeutics will post -2.18 EPS 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.