LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $46.60 Consensus Target Price from Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received a consensus recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $46.60.

Several equities research analysts have recently weighed in on the company. Piper Sandler assumed coverage on LENZ Therapeutics in a research report on Monday, April 14th. They issued an “overweight” rating and a $51.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday. TD Cowen assumed coverage on LENZ Therapeutics in a research report on Tuesday, March 18th. They issued a “buy” rating and a $60.00 price objective for the company. Finally, Citigroup increased their price objective on LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, March 20th.

LENZ Therapeutics Stock Up 1.8%

Shares of LENZ Therapeutics stock opened at $26.34 on Wednesday. The stock has a market capitalization of $741.37 million, a P/E ratio of -14.88 and a beta of 0.41. The stock has a 50 day moving average price of $24.56 and a two-hundred day moving average price of $27.31. LENZ Therapeutics has a 12-month low of $14.42 and a 12-month high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02. Sell-side analysts anticipate that LENZ Therapeutics will post -2.18 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of LENZ Therapeutics in the fourth quarter valued at $29,000. KLP Kapitalforvaltning AS acquired a new position in shares of LENZ Therapeutics in the fourth quarter valued at $46,000. Tower Research Capital LLC TRC raised its stake in shares of LENZ Therapeutics by 162.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company’s stock valued at $54,000 after purchasing an additional 1,151 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in shares of LENZ Therapeutics in the fourth quarter valued at $67,000. Finally, GAMMA Investing LLC raised its stake in shares of LENZ Therapeutics by 5,254.1% in the first quarter. GAMMA Investing LLC now owns 5,836 shares of the company’s stock valued at $150,000 after purchasing an additional 5,727 shares in the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

About LENZ Therapeutics

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.