Brokerages Set LENZ Therapeutics, Inc. (NASDAQ:LENZ) Price Target at $35.40

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) have received a consensus recommendation of "Buy" from the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $41.67.

A number of research analysts have commented on LENZ shares. Citigroup increased their target price on LENZ Therapeutics from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday. TD Cowen began coverage on LENZ Therapeutics in a research note on Tuesday. They set a "buy" rating and a $60.00 price objective on the stock.

LENZ Therapeutics Price Performance

LENZ traded up $0.19 during trading on Tuesday, hitting $26.49. The company had a trading volume of 502,876 shares, compared to its average volume of 166,103. LENZ Therapeutics has a 1-year low of $14.42 and a 1-year high of $38.93. The company has a market cap of $728.50 million, a PE ratio of -5.55 and a beta of 0.58. The business has a 50-day moving average of $24.15 and a 200-day moving average of $27.03.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.04). Research analysts forecast that LENZ Therapeutics will post -2.18 earnings per share for the current year.

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Hedge Funds Weigh In On LENZ Therapeutics

Several institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in LENZ Therapeutics during the 4th quarter valued at about $29,000. KLP Kapitalforvaltning AS bought a new stake in shares of LENZ Therapeutics during the fourth quarter valued at approximately $46,000. Tower Research Capital LLC TRC boosted its position in shares of LENZ Therapeutics by 162.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company's stock worth $54,000 after buying an additional 1,151 shares during the period. Virtus ETF Advisers LLC bought a new position in LENZ Therapeutics in the 4th quarter worth approximately $67,000. Finally, SG Americas Securities LLC increased its position in LENZ Therapeutics by 20.7% in the 4th quarter. SG Americas Securities LLC now owns 5,458 shares of the company's stock valued at $158,000 after acquiring an additional 935 shares during the period. Institutional investors own 54.32% of the company's stock.

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.