LENZ Therapeutics (NASDAQ:LENZ) Price Target Lowered to $48.00 at HC Wainwright

LENZ Therapeutics (NASDAQ:LENZ) had its target price decreased by HC Wainwright from $56.00 to $48.00 in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms have also commented on LENZ. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Thursday, January 22nd. William Blair reaffirmed an “outperform” rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. Citigroup cut their target price on shares of LENZ Therapeutics from $52.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Bank of America cut their target price on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Wall Street Zen downgraded shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock opened at $9.87 on Tuesday. The company has a 50 day moving average price of $11.14 and a 200 day moving average price of $19.83. LENZ Therapeutics has a 52 week low of $8.25 and a 52 week high of $50.40. The firm has a market capitalization of $309.46 million, a price-to-earnings ratio of -3.51 and a beta of 0.66.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Tuesday, March 24th. The company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.25). The company had revenue of $1.59 million for the quarter, compared to analysts’ expectations of $3.09 million. Equities analysts forecast that LENZ Therapeutics will post -3.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LENZ Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LENZ. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of LENZ Therapeutics by 99.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 185,642 shares of the company’s stock valued at $8,647,000 after purchasing an additional 92,362 shares in the last quarter. First Light Asset Management LLC bought a new position in shares of LENZ Therapeutics during the 3rd quarter valued at $32,282,000. Versant Venture Management LLC bought a new position in shares of LENZ Therapeutics during the 3rd quarter valued at $123,758,000. Sovran Advisors LLC raised its holdings in shares of LENZ Therapeutics by 164.5% during the 3rd quarter. Sovran Advisors LLC now owns 106,920 shares of the company’s stock valued at $4,980,000 after purchasing an additional 66,497 shares in the last quarter. Finally, Tyro Capital Management LLC bought a new position in shares of LENZ Therapeutics during the 3rd quarter valued at $4,689,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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.