LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $29.80.

A number of equities research analysts have issued reports on the company. Bank of America reduced their price target on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Wall Street Zen lowered shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Piper Sandler cut shares of LENZ Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $39.00 to $12.00 in a report on Tuesday, May 12th. Citigroup decreased their price target on shares of LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a report on Tuesday, July 7th.

LENZ Therapeutics Price Performance

Shares of LENZ stock traded down $0.20 on Friday, hitting $5.59. The stock had a trading volume of 1,202,630 shares, compared to its average volume of 819,368. The company’s 50 day moving average price is $7.00 and its 200-day moving average price is $11.12. LENZ Therapeutics has a 1 year low of $5.23 and a 1 year high of $50.40. The firm has a market capitalization of $175.25 million, a P/E ratio of -1.55 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). The company had revenue of $1.90 million for the quarter, compared to analysts’ expectations of $1.76 million. LENZ Therapeutics had a negative return on equity of 46.82% and a negative net margin of 519.30%. On average, equities analysts forecast that LENZ Therapeutics will post -4.62 EPS for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in LENZ Therapeutics by 377.4% in the first quarter. Bank of America Corp DE now owns 547,534 shares of the company’s stock valued at $5,010,000 after buying an additional 432,846 shares in the last quarter. Royal Bank of Canada boosted its position in shares of LENZ Therapeutics by 120.6% during the 1st quarter. Royal Bank of Canada now owns 95,235 shares of the company’s stock worth $870,000 after acquiring an additional 52,063 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of LENZ Therapeutics in the 1st quarter valued at about $436,000. Affinity Asset Advisors LLC increased its holdings in shares of LENZ Therapeutics by 200.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 100,000 shares of the company’s stock valued at $915,000 after acquiring an additional 200,000 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of LENZ Therapeutics during the 1st quarter worth about $827,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Company Profile

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.