LENZ Therapeutics (NASDAQ:LENZ) Upgraded by Wall Street Zen to Hold Rating

LENZ Therapeutics (NASDAQ:LENZ) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other analysts have also recently weighed in on the company. Zacks Research cut LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.40.

LENZ Therapeutics Trading Down 0.2%

Shares of NASDAQ LENZ opened at $13.49 on Friday. The business has a 50 day simple moving average of $15.86 and a 200-day simple moving average of $27.86. LENZ Therapeutics has a twelve month low of $11.48 and a twelve month high of $50.40. The company has a market capitalization of $422.10 million, a price-to-earnings ratio of -6.39 and a beta of 0.50.

Hedge Funds Weigh In On LENZ Therapeutics

Large investors have recently bought and sold shares of the company. Versant Venture Management LLC bought a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $123,758,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of LENZ Therapeutics by 307.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company’s stock worth $16,378,000 after buying an additional 772,411 shares during the period. First Light Asset Management LLC acquired a new stake in LENZ Therapeutics during the third quarter worth approximately $32,282,000. Adage Capital Partners GP L.L.C. increased its stake in shares of LENZ Therapeutics by 108.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock worth $32,907,000 after purchasing an additional 585,000 shares during the period. Finally, Franklin Resources Inc. increased its position in LENZ Therapeutics by 6,756.1% during the 3rd quarter. Franklin Resources Inc. now owns 587,084 shares of the company’s stock worth $27,346,000 after buying an additional 578,521 shares during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

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.