LENZ Therapeutics (NASDAQ:LENZ) Price Target Cut to $48.00 by Analysts at HC Wainwright

LENZ Therapeutics (NASDAQ:LENZ) had its price target reduced by investment analysts at HC Wainwright from $56.00 to $48.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 373.84% from the company’s previous close.

Several other equities research analysts have also recently commented on LENZ. Citigroup lowered their target price on LENZ Therapeutics from $52.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. William Blair reissued an “outperform” rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. Finally, 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. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.00.

LENZ Therapeutics Stock Performance

Shares of LENZ opened at $10.13 on Tuesday. The stock has a fifty day moving average price of $11.21 and a two-hundred day moving average price of $20.10. LENZ Therapeutics has a 52-week low of $8.25 and a 52-week high of $50.40. The company has a market cap of $317.58 million, a price-to-earnings ratio of -3.60 and a beta of 0.66.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Tuesday, March 24th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.25). The business had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $3.09 million. As a group, research analysts predict that LENZ Therapeutics will post -3.66 EPS for the current fiscal year.

Institutional Investors Weigh In On LENZ Therapeutics

Institutional investors 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 $27,000. Bfsg LLC acquired a new stake in shares of LENZ Therapeutics during the third quarter worth $30,000. Osaic Holdings Inc. grew its stake in shares of LENZ Therapeutics by 2,146.2% during the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after purchasing an additional 1,116 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after purchasing an additional 477 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in LENZ Therapeutics by 9,235.3% during the third quarter. SBI Securities Co. Ltd. now owns 1,587 shares of the company’s stock worth $74,000 after acquiring an additional 1,570 shares in the last quarter. 54.32% of the stock is owned by institutional investors and hedge funds.

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.