LENZ Therapeutics (NASDAQ:LENZ) Lowered to “Strong Sell” Rating by Zacks Research

LENZ Therapeutics (NASDAQ:LENZ) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on LENZ. Piper Sandler downgraded LENZ Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $12.00 in a report on Tuesday, May 12th. HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research report on Tuesday, July 7th. Bank of America lowered their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Wall Street Zen downgraded LENZ Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Citigroup decreased their price target on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, LENZ Therapeutics has an average rating of “Hold” and a consensus price target of $29.80.

LENZ Therapeutics Stock Down 2.2%

LENZ Therapeutics stock opened at $4.88 on Wednesday. LENZ Therapeutics has a 52-week low of $4.68 and a 52-week high of $50.40. The firm has a fifty day moving average of $6.65 and a 200-day moving average of $10.73. The firm has a market capitalization of $152.99 million, a P/E ratio of -1.36 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Monday, May 11th. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). The business had revenue of $1.90 million during the quarter, compared to analysts’ expectations of $1.76 million. LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. On average, research analysts expect that LENZ Therapeutics will post -4.63 EPS for the current fiscal year.

Institutional Trading of LENZ Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of LENZ Therapeutics during the third quarter worth approximately $27,000. State of Wyoming acquired a new stake in LENZ Therapeutics in the fourth quarter valued at $30,000. Caitong International Asset Management Co. Ltd bought a new position in LENZ Therapeutics during the 4th quarter valued at $32,000. Osaic Holdings Inc. boosted its stake in LENZ Therapeutics by 2,146.2% during the 2nd 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 last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in LENZ Therapeutics by 51.4% during the 2nd 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 last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

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.