LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Average Recommendation of "Buy" by Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) have earned a consensus recommendation of "Buy" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $35.40.

A number of equities analysts have recently issued reports on the company. Raymond James initiated coverage on LENZ Therapeutics in a research report on Friday, September 27th. They set an "outperform" rating and a $37.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of LENZ Therapeutics in a report on Thursday, November 7th.

Hedge Funds Weigh In On LENZ Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of LENZ. Parkman Healthcare Partners LLC acquired a new position in shares of LENZ Therapeutics during the 3rd quarter valued at $3,308,000. The Manufacturers Life Insurance Company acquired a new position in shares of LENZ Therapeutics during the third quarter valued at about $743,000. Bank of New York Mellon Corp raised its holdings in shares of LENZ Therapeutics by 255.4% during the second quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company's stock valued at $687,000 after purchasing an additional 28,556 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 81,901 shares in the last quarter. Finally, State Street Corp grew 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 valued at $6,865,000 after buying an additional 45,600 shares during the period. 54.32% of the stock is currently owned by institutional investors.

LENZ Therapeutics Trading Down 3.1 %

NASDAQ LENZ traded down $0.84 on Thursday, hitting $26.34. The company's stock had a trading volume of 103,687 shares, compared to its average volume of 147,657. The company's 50-day moving average is $32.47 and its 200 day moving average is $26.12. LENZ Therapeutics has a 1-year low of $14.42 and a 1-year high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.09. During the same period last year, the company earned ($1.33) earnings per share. As a group, equities analysts forecast that LENZ Therapeutics will post -2.09 EPS for the current 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.