Analysts Set LENZ Therapeutics, Inc. (NASDAQ:LENZ) PT at $35.00

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $35.00.

A number of brokerages have recently weighed in on LENZ. William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a research report on Thursday, August 15th. Finally, HC Wainwright began coverage on LENZ Therapeutics in a research report on Monday, August 12th. They issued a “buy” rating and a $38.00 price target for the company.

LENZ Therapeutics Stock Down 0.3 %

Shares of LENZ Therapeutics stock opened at $23.80 on Friday. The firm’s 50-day moving average price is $22.14. LENZ Therapeutics has a twelve month low of $14.07 and a twelve month high of $29.82.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Analysts anticipate that LENZ Therapeutics will post -2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LENZ. American International Group Inc. bought a new stake in shares of LENZ Therapeutics during the first quarter valued at approximately $44,000. Marquette Asset Management LLC purchased a new position in LENZ Therapeutics in the first quarter worth $131,000. Squarepoint Ops LLC purchased a new stake in shares of LENZ Therapeutics during the second quarter valued at $181,000. Rhumbline Advisers grew its holdings in shares of LENZ Therapeutics by 265.6% during the second quarter. Rhumbline Advisers now owns 16,812 shares of the company’s stock valued at $291,000 after buying an additional 12,214 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in LENZ Therapeutics by 28.4% during the second quarter. Renaissance Technologies LLC now owns 60,166 shares of the company’s stock valued at $1,040,000 after purchasing an additional 13,300 shares during the period. 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.