LENZ Therapeutics (NASDAQ:LENZ) Receives “Buy” Rating from HC Wainwright

LENZ Therapeutics (NASDAQ:LENZ)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $38.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 59.06% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their price objective on LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. TD Cowen started coverage on shares of LENZ Therapeutics in a research note on Tuesday, March 18th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Piper Sandler started coverage on LENZ Therapeutics in a report on Monday. They set an “overweight” rating and a $51.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, LENZ Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $46.60.

LENZ Therapeutics Price Performance

Shares of NASDAQ LENZ opened at $23.89 on Wednesday. The company has a market capitalization of $658.00 million, a P/E ratio of -5.01 and a beta of 0.43. LENZ Therapeutics has a 1 year low of $14.42 and a 1 year high of $38.93. The company has a 50 day simple moving average of $23.56 and a 200-day simple moving average of $27.10.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly 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, research analysts expect that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in LENZ Therapeutics by 18.7% in the third quarter. State Street Corp now owns 289,154 shares of the company’s stock worth $6,865,000 after acquiring an additional 45,600 shares in the last quarter. Wellington Management Group LLP bought a new stake in LENZ Therapeutics in the 3rd quarter valued at $585,000. Jane Street Group LLC bought a new position in LENZ Therapeutics during the third quarter worth about $286,000. Barclays PLC lifted its holdings in shares of LENZ Therapeutics by 273.1% during the third quarter. Barclays PLC now owns 16,463 shares of the company’s stock valued at $391,000 after acquiring an additional 12,051 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in LENZ Therapeutics during the fourth quarter worth about $1,270,000. Hedge funds and other institutional investors 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.