LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $35.40 Average Price Target from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Get Free Report) has been given an average recommendation of "Buy" by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $35.40.

A number of equities research analysts recently weighed in on the stock. William Blair raised shares of LENZ Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. Piper Sandler reissued an "overweight" rating and set a $36.00 price target on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Raymond James initiated coverage on shares of LENZ Therapeutics in a research note on Friday, September 27th. They issued an "outperform" rating and a $37.00 target price for the company. Finally, HC Wainwright initiated coverage on shares of LENZ Therapeutics in a research note on Monday, August 12th. They issued a "buy" rating and a $38.00 target price for the company.

LENZ Therapeutics Price Performance

NASDAQ:LENZ traded up $2.00 on Friday, reaching $27.02. The stock had a trading volume of 117,095 shares, compared to its average volume of 171,613. LENZ Therapeutics has a 1-year low of $14.07 and a 1-year high of $31.00. The stock has a fifty day moving average price of $23.49 and a 200-day moving average price of $20.48.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.09. On average, equities analysts anticipate that LENZ Therapeutics will post -3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in LENZ Therapeutics during the first quarter worth $830,000. Jennison Associates LLC acquired a new stake in LENZ Therapeutics in the first quarter valued at $3,009,000. Vanguard Group Inc. acquired a new stake in LENZ Therapeutics in the first quarter valued at $4,621,000. Bank of New York Mellon Corp lifted its stake in LENZ Therapeutics by 255.4% in the second quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company's stock valued at $687,000 after acquiring an additional 28,556 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in LENZ Therapeutics in the second quarter valued at $390,000. Institutional investors and hedge funds own 54.32% of the company's stock.

LENZ Therapeutics Company Profile

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.