LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $56.40 Average Target Price from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $56.40.

A number of equities research analysts have weighed in on LENZ shares. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Wall Street Zen raised shares of LENZ Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. Zacks Research cut shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a report on Monday, December 15th.

Institutional Investors Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in LENZ. Versant Venture Management LLC acquired a new position in shares of LENZ Therapeutics in the third quarter worth approximately $123,758,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 772,411 shares during the period. First Light Asset Management LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter worth approximately $32,282,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of 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 valued at $32,907,000 after purchasing an additional 585,000 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of LENZ Therapeutics by 6,756.1% during the third 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.

LENZ Therapeutics Trading Down 1.4%

Shares of LENZ stock opened at $12.96 on Monday. The firm has a market capitalization of $405.52 million, a price-to-earnings ratio of -6.14 and a beta of 0.52. The business’s 50-day moving average price is $15.62 and its 200-day moving average price is $27.31. LENZ Therapeutics has a 12 month low of $11.48 and a 12 month high of $50.40.

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.