LENZ Therapeutics (NASDAQ:LENZ) Rating Lowered to Sell at Wall Street Zen

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

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Thursday, January 22nd. William Blair reaffirmed an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Finally, HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LENZ Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $55.50.

LENZ Therapeutics Stock Down 8.8%

Shares of NASDAQ:LENZ opened at $10.48 on Friday. The company has a market cap of $327.92 million, a price-to-earnings ratio of -4.97 and a beta of 0.52. The business has a 50 day moving average price of $14.57 and a 200 day moving average price of $25.15. LENZ Therapeutics has a twelve month low of $10.44 and a twelve month high of $50.40.

Institutional Investors Weigh In On LENZ Therapeutics

Several large investors have recently made changes to their positions in the stock. Versant Venture Management LLC bought a new position in shares of LENZ Therapeutics in the third quarter valued at $123,758,000. Price T Rowe Associates Inc. MD raised its position in LENZ Therapeutics by 307.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company’s stock worth $16,378,000 after acquiring an additional 772,411 shares in the last quarter. First Light Asset Management LLC acquired a new stake in LENZ Therapeutics in the third quarter valued at $32,282,000. Adage Capital Partners GP L.L.C. lifted its stake in LENZ Therapeutics by 108.8% in the second 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 acquiring an additional 585,000 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of LENZ Therapeutics by 6,756.1% in the 3rd quarter. Franklin Resources Inc. now owns 587,084 shares of the company’s stock valued at $27,346,000 after acquiring 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.