LENZ Therapeutics (NASDAQ:LENZ) Hits New 1-Year High - What's Next?

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $37.50 and last traded at $36.52, with a volume of 20188 shares changing hands. The stock had previously closed at $35.75.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LENZ shares. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Piper Sandler reaffirmed an "overweight" rating and set a $36.00 price target on shares of LENZ Therapeutics in a research report on Thursday, August 15th. William Blair raised shares of LENZ Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Finally, Raymond James began coverage on shares of LENZ Therapeutics in a research report on Friday, September 27th. They issued an "outperform" rating and a $37.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, LENZ Therapeutics currently has a consensus rating of "Buy" and an average target price of $35.40.

LENZ Therapeutics Stock Performance

The business has a 50 day simple moving average of $25.18 and a 200-day simple moving average of $21.42.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last released 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 quarter in the previous year, the business earned ($1.33) earnings per share. Equities research analysts expect that LENZ Therapeutics, Inc. will post -2.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of LENZ. RA Capital Management L.P. purchased a new stake in LENZ Therapeutics in the first quarter worth about $93,313,000. Vanguard Group Inc. purchased a new position in shares of LENZ Therapeutics during the first quarter valued at about $4,621,000. Charles Schwab Investment Management Inc. increased its stake in LENZ Therapeutics by 197.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company's stock worth $2,929,000 after acquiring an additional 81,901 shares during the last quarter. Ikarian Capital LLC bought a new stake in shares of LENZ Therapeutics in the 1st quarter worth about $1,898,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in LENZ Therapeutics in the second quarter worth $1,437,000. 54.32% of the stock is owned by institutional investors.

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.

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