LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $29.80.

LENZ has been the subject of a number of recent research reports. Citigroup dropped their target price on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Bank of America decreased their price target on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen lowered LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. HC Wainwright dropped their price objective on LENZ Therapeutics from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, William Blair reissued an “outperform” rating on shares of LENZ Therapeutics in a report on Tuesday, March 10th.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock remained flat at $5.89 on Friday. 1,028,482 shares of the company’s stock were exchanged, compared to its average volume of 719,438. The firm has a market cap of $184.65 million, a PE ratio of -1.64 and a beta of 0.62. LENZ Therapeutics has a 52-week low of $5.23 and a 52-week high of $50.40. The company’s fifty day moving average is $7.36 and its two-hundred day moving average is $11.51.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.22). LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. The business had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.76 million. Equities analysts anticipate that LENZ Therapeutics will post -4.61 EPS for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

A number of large investors have recently modified their holdings of LENZ. Quarry LP bought a new position in LENZ Therapeutics in the 3rd quarter valued at $27,000. State of Wyoming bought a new stake in shares of LENZ Therapeutics during the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of LENZ Therapeutics during the fourth quarter worth $32,000. Osaic Holdings Inc. lifted its stake in shares of LENZ Therapeutics by 2,146.2% during the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock valued at $34,000 after acquiring an additional 1,116 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after acquiring an additional 477 shares during the period. 54.32% of the stock is currently owned by institutional investors and hedge funds.

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.