LENZ Therapeutics (NASDAQ:LENZ) Now Covered by Analysts at Raymond James

Investment analysts at Raymond James assumed coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research report issued to clients and investors on Friday, Briefing.com reports. The firm set an “outperform” rating and a $37.00 price target on the stock. Raymond James’ price target would suggest a potential upside of 66.29% from the stock’s previous close.

Several other research analysts have also issued reports on LENZ. Piper Sandler reissued an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a research report on Thursday, August 15th. HC Wainwright assumed coverage on LENZ Therapeutics in a report on Monday, August 12th. They issued a “buy” rating and a $38.00 target price for the company. Finally, William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $35.40.

LENZ Therapeutics Trading Up 3.2 %

Shares of NASDAQ:LENZ opened at $22.25 on Friday. LENZ Therapeutics has a 1-year low of $14.07 and a 1-year high of $29.82. The stock’s 50 day moving average price is $22.84.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Research analysts expect that LENZ Therapeutics will post -2.81 EPS for the current year.

Institutional Trading of LENZ Therapeutics

Several hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new stake in LENZ Therapeutics during the 1st quarter worth approximately $830,000. Jennison Associates LLC bought a new stake in shares of LENZ Therapeutics during the first quarter worth $3,009,000. Vanguard Group Inc. acquired a new stake in shares of LENZ Therapeutics in the first quarter valued at $4,621,000. Bank of New York Mellon Corp raised its holdings in shares of LENZ Therapeutics by 255.4% in the second quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock valued at $687,000 after buying an additional 28,556 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in LENZ Therapeutics during the 2nd quarter worth about $1,437,000. 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.