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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $44.00.

A number of brokerages have issued reports on LENZ. William Blair restated an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Citigroup cut their target price on shares of LENZ Therapeutics from $52.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. HC Wainwright cut their target price on shares of LENZ Therapeutics from $56.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday. Wall Street Zen cut shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Thursday, January 22nd.

LENZ Therapeutics Trading Down 0.5%

LENZ stock opened at $10.13 on Tuesday. The company has a market cap of $317.58 million, a P/E ratio of -3.60 and a beta of 0.66. LENZ Therapeutics has a 52 week low of $8.25 and a 52 week high of $50.40. The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $20.10.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Tuesday, March 24th. The company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.25). The company had revenue of $1.59 million for the quarter, compared to analysts’ expectations of $3.09 million. On average, equities research analysts expect that LENZ Therapeutics will post -3.66 earnings per share for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in LENZ Therapeutics during the third quarter worth about $27,000. Bfsg LLC acquired a new position in LENZ Therapeutics during the third quarter worth about $30,000. State of Wyoming acquired a new position in LENZ Therapeutics during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd acquired a new position in LENZ Therapeutics during the fourth quarter worth about $32,000. Finally, Osaic Holdings Inc. raised its position in shares of LENZ Therapeutics by 2,146.2% in the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock valued at $34,000 after buying an additional 1,116 shares during the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

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.