LENZ Therapeutics (NASDAQ:LENZ) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of LENZ Therapeutics (NASDAQ:LENZ) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

LENZ has been the subject of several other reports. Wall Street Zen cut shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Bank of America dropped their price target on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings raised shares of LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Piper Sandler cut shares of LENZ Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $39.00 to $12.00 in a report on Tuesday, May 12th. Finally, HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a research report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.80.

LENZ Therapeutics Stock Up 6.1%

LENZ Therapeutics stock opened at $5.18 on Wednesday. The business’s 50-day moving average price is $6.56 and its 200 day moving average price is $10.70. The firm has a market cap of $162.39 million, a price-to-earnings ratio of -1.44 and a beta of 0.62. LENZ Therapeutics has a 52 week low of $4.68 and a 52 week high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. The company had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.76 million. Equities analysts expect that LENZ Therapeutics will post -4.63 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LENZ. UBS Group AG lifted its position in shares of LENZ Therapeutics by 30.8% during the 4th quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock valued at $25,148,000 after buying an additional 370,122 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in LENZ Therapeutics by 108.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock worth $32,907,000 after acquiring an additional 585,000 shares in the last quarter. Franklin Resources Inc. increased its holdings in LENZ Therapeutics by 86.7% in the 4th quarter. Franklin Resources Inc. now owns 1,096,334 shares of the company’s stock worth $17,541,000 after acquiring an additional 509,250 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in LENZ Therapeutics by 307.6% in 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 acquiring an additional 772,411 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its position in LENZ Therapeutics by 40.0% during the first quarter. C WorldWide Group Holding A S now owns 700,000 shares of the company’s stock worth $6,405,000 after acquiring an additional 200,000 shares during the period. 54.32% of the stock is owned by institutional investors and hedge funds.

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.