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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $46.60.

LENZ has been the topic of a number of research analyst reports. 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 objective on the stock. 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 research report on Thursday, March 20th. TD Cowen initiated coverage on shares of LENZ Therapeutics in a research report on Tuesday, March 18th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, May 8th.

LENZ Therapeutics Stock Down 0.8%

NASDAQ:LENZ opened at $29.29 on Friday. The company’s 50 day moving average price is $25.72 and its 200-day moving average price is $27.08. LENZ Therapeutics has a 52 week low of $14.42 and a 52 week high of $38.93. The stock has a market cap of $824.40 million, a price-to-earnings ratio of -16.55 and a beta of 0.41.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.02. As a group, sell-side analysts anticipate that LENZ Therapeutics will post -2.18 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in LENZ Therapeutics by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock worth $34,022,000 after acquiring an additional 59,630 shares during the period. KLP Kapitalforvaltning AS bought a new position in LENZ Therapeutics in the fourth quarter worth approximately $46,000. SG Americas Securities LLC raised its position in LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock worth $158,000 after acquiring an additional 935 shares during the period. Wells Fargo & Company MN raised its position in shares of LENZ Therapeutics by 27.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,504 shares of the company’s stock valued at $217,000 after purchasing an additional 1,608 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of LENZ Therapeutics during the 4th quarter valued at $29,000. 54.32% of the stock is currently owned by institutional investors.

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.