LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $56.40 Consensus PT from Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $56.40.

LENZ has been the topic of several analyst reports. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price (up from $40.00) on shares of LENZ Therapeutics in a research report on Monday, October 20th. Piper Sandler increased their target price on LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Zacks Research cut shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Wednesday, October 8th.

LENZ Therapeutics Trading Up 6.6%

LENZ Therapeutics stock opened at $16.60 on Friday. LENZ Therapeutics has a 52 week low of $14.43 and a 52 week high of $50.40. The stock has a fifty day moving average price of $22.23 and a 200 day moving average price of $31.77. The firm has a market capitalization of $519.41 million, a P/E ratio of -7.87 and a beta of 0.50.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.08. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $4.64 million. As a group, equities analysts predict that LENZ Therapeutics will post -2.18 EPS for the current year.

Insiders Place Their Bets

In other LENZ Therapeutics news, insider Shawn Olsson sold 10,000 shares of LENZ Therapeutics stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $26.10, for a total transaction of $261,000.00. Following the sale, the insider directly owned 4,733 shares of the company’s stock, valued at approximately $123,531.30. The trade was a 67.87% 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. Also, Director James W. Mccollum acquired 10,500 shares of the stock in a transaction on Friday, November 7th. The stock was bought at an average price of $22.79 per share, with a total value of $239,295.00. Following the transaction, the director directly owned 10,500 shares in the company, valued at approximately $239,295. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in LENZ Therapeutics during the third quarter valued at about $27,000. Bfsg LLC bought a new stake in LENZ Therapeutics during the third quarter worth about $30,000. Osaic Holdings Inc. raised its stake in shares of LENZ Therapeutics by 2,146.2% during the second 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 boosted its position in LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after buying an additional 477 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in LENZ Therapeutics by 47.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock worth $53,000 after acquiring an additional 586 shares during the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

About LENZ Therapeutics

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.