Research analysts at TD Cowen started coverage on shares of LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $60.00 price target on the stock. TD Cowen's price objective indicates a potential upside of 126.50% from the company's previous close.
LENZ Therapeutics Price Performance
Shares of LENZ Therapeutics stock traded up $0.19 during trading on Tuesday, hitting $26.49. 502,876 shares of the company were exchanged, compared to its average volume of 166,103. The firm has a market capitalization of $728.50 million, a P/E ratio of -5.55 and a beta of 0.58. LENZ Therapeutics has a 1-year low of $14.42 and a 1-year high of $38.93. The firm's fifty day moving average price is $24.15 and its 200 day moving average price is $27.03.
LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) last posted its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, equities research analysts anticipate that LENZ Therapeutics will post -2.18 earnings per share for the current year.
Hedge Funds Weigh In On LENZ Therapeutics
Several institutional investors have recently modified their holdings of the stock. Paradigm Biocapital Advisors LP acquired a new position in shares of LENZ Therapeutics in the 4th quarter valued at approximately $22,243,000. Price T Rowe Associates Inc. MD grew its position in shares of LENZ Therapeutics by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company's stock valued at $23,760,000 after purchasing an additional 374,326 shares during the period. Parkman Healthcare Partners LLC acquired a new position in shares of LENZ Therapeutics in the 3rd quarter valued at approximately $3,308,000. Charles Schwab Investment Management Inc. grew 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 valued at $2,929,000 after purchasing an additional 81,901 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of LENZ Therapeutics by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company's stock valued at $34,022,000 after purchasing an additional 59,630 shares during the period. 54.32% of the stock is currently owned by institutional investors and hedge funds.
About LENZ Therapeutics
(
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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