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

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

Several other equities analysts also recently weighed in on LENZ. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. 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, HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.40.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock opened at $11.59 on Friday. LENZ Therapeutics has a fifty-two week low of $11.50 and a fifty-two week high of $50.40. The firm has a market capitalization of $362.65 million, a price-to-earnings ratio of -5.49 and a beta of 0.50. The stock’s fifty day moving average is $16.26 and its two-hundred day moving average is $28.62.

Hedge Funds Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Intech Investment Management LLC boosted its position in shares of LENZ Therapeutics by 4.3% in the second quarter. Intech Investment Management LLC now owns 9,251 shares of the company’s stock worth $271,000 after acquiring an additional 380 shares during the last quarter. Tower Research Capital LLC TRC increased its position in LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after purchasing an additional 477 shares during the last quarter. Quarry LP purchased a new position in LENZ Therapeutics during the third quarter worth approximately $27,000. Ameritas Investment Partners Inc. boosted its holdings in shares of LENZ Therapeutics by 47.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock valued at $53,000 after purchasing an additional 586 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at $30,000. 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.