LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) was down 6.1% during trading on Monday . The company traded as low as $24.27 and last traded at $23.91. Approximately 99,249 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 161,642 shares. The stock had previously closed at $25.45.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. TD Cowen initiated coverage on shares of LENZ Therapeutics in a research report on Tuesday. They set a "buy" rating and a $60.00 price target on the stock. Citigroup boosted their price target on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, LENZ Therapeutics has a consensus rating of "Buy" and a consensus target price of $41.67.
Get Our Latest Stock Analysis on LENZ Therapeutics
LENZ Therapeutics Stock Performance
The company's fifty day simple moving average is $24.09 and its two-hundred day simple moving average is $27.01. The company has a market capitalization of $728.50 million, a price-to-earnings ratio of -5.55 and a beta of 0.58.
LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Sell-side analysts anticipate that LENZ Therapeutics, Inc. will post -2.18 EPS for the current year.
Hedge Funds Weigh In On LENZ Therapeutics
A number of institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new stake in LENZ Therapeutics during the fourth quarter valued at approximately $1,270,000. Parkman Healthcare Partners LLC bought a new stake in shares of LENZ Therapeutics during the third quarter worth $3,308,000. Barclays PLC lifted its position in LENZ Therapeutics by 273.1% during the 3rd 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 acquired a new position in LENZ Therapeutics in the third quarter valued at approximately $743,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 81,901 shares during the last quarter. 54.32% of the stock is currently owned by institutional investors.
LENZ Therapeutics Company Profile
(
Get Free Report)
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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