LENZ Therapeutics, Inc. (NASDAQ:LENZ) Stock Has Consensus Target Price of $14.75 According to Brokerages

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $14.75.

Several equities research analysts recently weighed in on LENZ shares. Zacks Research upgraded LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. HC Wainwright reduced their price objective on shares of LENZ Therapeutics to $16.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Piper Sandler decreased their price objective on shares of LENZ Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Citigroup lowered their target price on shares of LENZ Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Weiss Ratings downgraded LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th.

Insider Activity at LENZ Therapeutics

In other LENZ Therapeutics news, major shareholder Ra Capital Management, L.P. sold 2,718,684 shares of LENZ Therapeutics stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $3.36, for a total transaction of $9,134,778.24. Following the sale, the insider directly owned 57,559 shares of the company’s stock, valued at approximately $193,398.24. The trade was a 97.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On LENZ Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LENZ. BML Capital Management LLC acquired a new stake in shares of LENZ Therapeutics in the third quarter valued at $1,087,000. Russell Investments Group Ltd. lifted its position in LENZ Therapeutics by 975.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 160,996 shares of the company’s stock worth $618,000 after buying an additional 146,026 shares in the last quarter. Inscription Capital LLC bought a new stake in LENZ Therapeutics during the 3rd quarter worth about $44,000. Pinnacle Wealth Planning Services Inc. grew its holdings in LENZ Therapeutics by 92.5% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 10,104 shares of the company’s stock worth $39,000 after acquiring an additional 4,854 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in LENZ Therapeutics by 16.0% in the 2nd quarter. Squarepoint Ops LLC now owns 1,747,096 shares of the company’s stock valued at $9,924,000 after acquiring an additional 240,597 shares in the last quarter. 54.32% of the stock is owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Up 16.3%

LENZ stock traded up $0.49 during trading hours on Friday, hitting $3.50. The company’s stock had a trading volume of 785,586 shares, compared to its average volume of 1,111,717. The company has a market capitalization of $109.97 million, a PE ratio of -0.78 and a beta of 0.78. LENZ Therapeutics has a 12 month low of $2.80 and a 12 month high of $32.13. The stock has a 50 day moving average price of $3.93 and a two-hundred day moving average price of $7.73.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Wednesday, October 28th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). LENZ Therapeutics had a negative net margin of 1,134.97% and a negative return on equity of 56.10%. The business had revenue of $3.38 million for the quarter, compared to the consensus estimate of $4.20 million. Sell-side analysts expect that LENZ Therapeutics will post -4.08 earnings per share for the current year.

About LENZ Therapeutics

LENZ Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing ophthalmic medicines for the treatment of presbyopia, the age-related loss of near vision. The company is headquartered in San Diego, California, and its programs are designed to provide an alternative to reading glasses and other corrective lenses.

LENZ’s primary product candidate is aceclidine ophthalmic solution, developed under the names LNZ100 and VIZZ. The pupil-selective miotic is intended to improve near vision while preserving distance vision, without relying on the lens-shaping mechanism targeted by some other presbyopia treatments.