LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $56.40 Average PT from Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $56.40.

A number of equities analysts have recently weighed in on LENZ shares. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Wednesday, October 8th. Zacks Research downgraded LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Piper Sandler boosted their target price on LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Raymond James Financial restated an “outperform” rating and issued a $50.00 price target (up from $40.00) on shares of LENZ Therapeutics in a report on Monday, October 20th. Finally, Citigroup reiterated a “buy” rating and set a $49.00 price objective (up previously from $45.00) on shares of LENZ Therapeutics in a report on Thursday, July 31st.

LENZ Therapeutics Trading Up 8.1%

LENZ Therapeutics stock opened at $31.94 on Friday. The firm has a market capitalization of $999.40 million, a P/E ratio of -15.14 and a beta of 0.46. The business has a 50-day moving average of $35.49 and a 200-day moving average of $33.90. LENZ Therapeutics has a 1 year low of $16.53 and a 1 year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.08. The firm had revenue of $12.50 million for the quarter, compared to the consensus estimate of $4.64 million. Research analysts anticipate that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling at LENZ Therapeutics

In other news, insider Shawn Olsson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $26.10, for a total value of $261,000.00. Following the completion of the transaction, the insider owned 4,733 shares in the company, valued at $123,531.30. This represents a 67.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Mccollum acquired 10,500 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $22.79 per share, with a total value of $239,295.00. Following the transaction, the director directly owned 10,500 shares of the company’s stock, valued at $239,295. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 6.90% of the company’s stock.

Institutional Trading of LENZ Therapeutics

A number of institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of LENZ Therapeutics during the third quarter worth about $27,000. Bfsg LLC acquired a new position in LENZ Therapeutics during the 3rd quarter worth approximately $30,000. Osaic Holdings Inc. grew its stake in shares of LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after acquiring an additional 1,116 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of LENZ Therapeutics by 51.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after purchasing an additional 477 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of LENZ Therapeutics by 47.6% in the second quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock valued at $53,000 after purchasing an additional 586 shares during the last quarter. 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.