LENZ Therapeutics (NASDAQ:LENZ) Price Target Lowered to $38.00 at HC Wainwright

LENZ Therapeutics (NASDAQ:LENZ) had its price target dropped by research analysts at HC Wainwright from $48.00 to $38.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 280.38% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Piper Sandler cut LENZ Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $39.00 to $12.00 in a report on Tuesday. Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Citigroup lowered their target price on LENZ Therapeutics from $52.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. William Blair restated an “outperform” rating on shares of LENZ Therapeutics in a report on Tuesday, March 10th. Finally, Bank of America lowered their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.00.

LENZ Therapeutics Trading Down 0.7%

LENZ stock opened at $9.99 on Tuesday. LENZ Therapeutics has a 12-month low of $8.25 and a 12-month high of $50.40. The stock has a market cap of $313.19 million, a price-to-earnings ratio of -3.56 and a beta of 0.62. The business’s 50-day moving average is $10.36 and its 200 day moving average is $17.15.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.22). The company had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.76 million. As a group, equities analysts forecast that LENZ Therapeutics will post -3.91 EPS for the current fiscal year.

Institutional Trading of LENZ Therapeutics

Institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter valued at approximately $27,000. Bfsg LLC purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter valued at approximately $30,000. State of Wyoming purchased a new stake in shares of LENZ Therapeutics during the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of LENZ Therapeutics during the 4th quarter valued at approximately $32,000. Finally, Osaic Holdings Inc. raised its position in shares of LENZ Therapeutics by 2,146.2% during the 2nd 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 period. Hedge funds and other institutional investors 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.