LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Consensus Rating of "Buy" by Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) has been given an average rating of "Buy" by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $46.60.

Several research firms have commented on LENZ. HC Wainwright restated a "buy" rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research note on Wednesday. TD Cowen started coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They issued a "buy" rating and a $60.00 target price on the stock. Citigroup increased their price objective on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. Finally, Piper Sandler began coverage on LENZ Therapeutics in a research report on Monday. They set an "overweight" rating and a $51.00 price objective for the company.

Hedge Funds Weigh In On LENZ Therapeutics

A number of institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of LENZ Therapeutics in the fourth quarter valued at about $1,270,000. Barclays PLC increased its holdings in shares of LENZ Therapeutics by 273.1% in the third quarter. Barclays PLC now owns 16,463 shares of the company's stock valued at $391,000 after purchasing an additional 12,051 shares during the period. The Manufacturers Life Insurance Company purchased a new position in LENZ Therapeutics in the 3rd quarter valued at $743,000. Charles Schwab Investment Management Inc. raised its position in LENZ Therapeutics by 197.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company's stock worth $2,929,000 after buying an additional 81,901 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of LENZ Therapeutics by 18.7% in the 3rd quarter. State Street Corp now owns 289,154 shares of the company's stock worth $6,865,000 after acquiring an additional 45,600 shares during the period. 54.32% of the stock is owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Performance

Shares of NASDAQ LENZ traded up $0.67 during mid-day trading on Friday, reaching $23.73. 24,792 shares of the company's stock were exchanged, compared to its average volume of 202,129. LENZ Therapeutics has a 52-week low of $14.42 and a 52-week high of $38.93. The firm has a market capitalization of $653.46 million, a price-to-earnings ratio of -4.97 and a beta of 0.43. The company's 50-day moving average is $23.51 and its 200-day moving average is $27.07.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, equities analysts predict that LENZ Therapeutics will post -2.18 earnings per share for the current fiscal year.

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.