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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $29.80.

LENZ has been the subject of a number of recent research reports. Bank of America decreased their price target on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Piper Sandler cut shares of LENZ Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $39.00 to $12.00 in a report on Tuesday, May 12th. Citigroup reduced their price objective on shares of LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. HC Wainwright decreased their target price on shares of LENZ Therapeutics from $48.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Weiss Ratings cut shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st.

LENZ Therapeutics Stock Performance

Shares of LENZ Therapeutics stock opened at $6.79 on Wednesday. LENZ Therapeutics has a 52 week low of $6.52 and a 52 week high of $50.40. The stock has a 50 day moving average price of $8.62 and a two-hundred day moving average price of $14.15. The stock has a market capitalization of $212.87 million, a PE ratio of -1.89 and a beta of 0.58.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). LENZ Therapeutics had a negative return on equity of 46.82% and a negative net margin of 519.30%.The firm had revenue of $1.90 million for the quarter, compared to analyst estimates of $1.76 million. Research analysts forecast that LENZ Therapeutics will post -4.61 EPS for the current year.

Institutional Trading of LENZ Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of LENZ Therapeutics by 377.4% during the first quarter. Bank of America Corp DE now owns 547,534 shares of the company’s stock valued at $5,010,000 after buying an additional 432,846 shares during the last quarter. Royal Bank of Canada grew its holdings in LENZ Therapeutics by 120.6% during the first quarter. Royal Bank of Canada now owns 95,235 shares of the company’s stock worth $870,000 after buying an additional 52,063 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in LENZ Therapeutics in the 1st quarter valued at $436,000. Affinity Asset Advisors LLC raised its position in LENZ Therapeutics by 200.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 100,000 shares of the company’s stock valued at $915,000 after buying an additional 200,000 shares during the last quarter. Finally, KBC Group NV bought a new position in LENZ Therapeutics during the 1st quarter valued at $827,000. 54.32% of the stock is owned by hedge funds and other institutional investors.

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.