Analysts Set LENZ Therapeutics, Inc. (NASDAQ:LENZ) Price Target at $56.40

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $56.40.

A number of brokerages recently issued reports on LENZ. Raymond James Financial reissued an “outperform” rating and set a $50.00 price objective (up previously from $40.00) on shares of LENZ Therapeutics in a report on Monday, October 20th. HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of LENZ Therapeutics in a report on Monday. Piper Sandler increased their price target on shares of LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating and issued a $49.00 target price (up from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st.

LENZ Therapeutics Price Performance

NASDAQ:LENZ opened at $30.46 on Tuesday. The company has a market cap of $868.72 million, a P/E ratio of -16.03 and a beta of 0.50. The stock’s fifty day moving average price is $39.97 and its two-hundred day moving average price is $33.75. LENZ Therapeutics has a 1 year low of $16.53 and a 1 year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, July 30th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.05. The company had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $5.00 million. On average, analysts expect that LENZ Therapeutics will post -2.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LENZ Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of LENZ Therapeutics by 8.1% in the 1st quarter. Wellington Management Group LLP now owns 30,488 shares of the company’s stock valued at $784,000 after acquiring an additional 2,272 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of LENZ Therapeutics in the 1st quarter valued at about $13,825,000. Granahan Investment Management LLC raised its holdings in shares of LENZ Therapeutics by 239.8% in 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 in the last quarter. Sovran Advisors LLC purchased a new stake in LENZ Therapeutics in the second quarter valued at approximately $1,268,000. Finally, Nuveen LLC purchased a new stake in LENZ Therapeutics in the first quarter valued at approximately $1,724,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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.