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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $46.60.

A number of equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on LENZ Therapeutics in a report on Monday, April 14th. They set an “overweight” rating and a $51.00 price objective for the company. TD Cowen assumed coverage on LENZ Therapeutics in a research note on Tuesday, March 18th. They issued a “buy” rating and a $60.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, May 8th. Finally, Citigroup boosted their price target on LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 20th.

Institutional Investors Weigh In On LENZ Therapeutics

Institutional investors have recently made changes to their positions in the stock. Granahan Investment Management LLC lifted its position in shares of LENZ Therapeutics by 239.8% during the 1st quarter. Granahan Investment Management LLC now owns 176,166 shares of the company’s stock valued at $4,529,000 after acquiring an additional 124,324 shares during the period. Banque Transatlantique SA bought a new stake in LENZ Therapeutics during the first quarter worth about $119,000. Adage Capital Partners GP L.L.C. bought a new stake in LENZ Therapeutics during the first quarter worth about $13,825,000. Scoggin Management LP bought a new stake in LENZ Therapeutics during the first quarter worth about $2,571,000. Finally, Paradigm Biocapital Advisors LP lifted its position 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 purchasing an additional 741,477 shares during the period. 54.32% of the stock is currently owned by institutional investors.

LENZ Therapeutics Trading Up 5.5%

Shares of NASDAQ LENZ opened at $31.96 on Friday. The stock has a 50 day moving average of $26.13 and a 200-day moving average of $26.95. LENZ Therapeutics has a 12 month low of $15.71 and a 12 month high of $38.93. The company has a market capitalization of $899.55 million, a P/E ratio of -18.06 and a beta of 0.42.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02. Analysts predict that LENZ Therapeutics will post -2.18 EPS for the current fiscal 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.