LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $46.60 Consensus Price Target from Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given an average rating of “Buy” by the six research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $46.60.

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

Institutional Trading of LENZ Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of LENZ Therapeutics during the third quarter worth about $286,000. Barclays PLC increased its stake in LENZ Therapeutics by 273.1% during the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock worth $391,000 after purchasing an additional 12,051 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in LENZ Therapeutics during the 4th quarter worth approximately $1,270,000. SG Americas Securities LLC lifted its stake in LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock valued at $158,000 after buying an additional 935 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of LENZ Therapeutics in the fourth quarter valued at approximately $168,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Stock Performance

Shares of NASDAQ:LENZ opened at $26.34 on Wednesday. The business has a fifty day moving average of $24.56 and a 200-day moving average of $27.28. The firm has a market cap of $725.54 million, a PE ratio of -5.52 and a beta of 0.41. LENZ Therapeutics has a twelve month low of $14.42 and a twelve month high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02. On average, analysts anticipate that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

LENZ Therapeutics Company Profile

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.