LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Average Recommendation of “Buy” from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $35.40.

A number of analysts recently weighed in on the stock. William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Raymond James started coverage on shares of LENZ Therapeutics in a research note on Friday, September 27th. They issued an “outperform” rating and a $37.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $36.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, August 15th.

Institutional Trading of LENZ Therapeutics

Large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in LENZ Therapeutics by 273.1% during the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock valued at $391,000 after purchasing an additional 12,051 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of LENZ Therapeutics during the 3rd quarter worth about $286,000. Wellington Management Group LLP acquired a new position in LENZ Therapeutics in the 3rd quarter valued at about $585,000. State Street Corp lifted its position in LENZ Therapeutics by 18.7% during 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 during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in LENZ Therapeutics during the third quarter worth approximately $3,308,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Trading Up 1.0 %

NASDAQ:LENZ opened at $36.25 on Wednesday. LENZ Therapeutics has a 1 year low of $14.42 and a 1 year high of $38.93. The firm has a 50 day moving average of $27.89 and a 200-day moving average of $22.88.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.09. During the same quarter in the prior year, the firm posted ($1.33) earnings per share. On average, equities research analysts predict that LENZ Therapeutics will post -2.09 earnings per share for the current year.

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.