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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $56.40.

A number of research analysts have issued reports on LENZ shares. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Raymond James Financial reissued 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. Zacks Research lowered shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Thursday, January 22nd.

LENZ Therapeutics Stock Performance

Shares of LENZ opened at $14.22 on Thursday. LENZ Therapeutics has a 52-week low of $13.73 and a 52-week high of $50.40. The business’s fifty day moving average is $18.90 and its 200-day moving average is $29.88. The firm has a market cap of $444.94 million, a price-to-earnings ratio of -6.74 and a beta of 0.50.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, November 5th. The company reported ($0.59) EPS 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. As a group, research analysts forecast 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 stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $26.10, for a total value 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. This represents a 67.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LENZ. Versant Venture Management LLC purchased a new stake in shares of LENZ Therapeutics in the third quarter worth $123,758,000. UBS Group AG boosted its stake in LENZ Therapeutics by 30.8% in the 4th quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock worth $25,148,000 after purchasing an additional 370,122 shares in the last quarter. Vanguard Group Inc. grew its position in LENZ Therapeutics by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,330,286 shares of the company’s stock valued at $61,965,000 after purchasing an additional 39,292 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in LENZ Therapeutics by 108.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after purchasing an additional 585,000 shares in the last quarter. Finally, First Light Asset Management LLC bought a new stake in LENZ Therapeutics during the 3rd quarter valued at about $32,282,000. 54.32% of the stock is 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.