LENZ Therapeutics (NASDAQ:LENZ) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of LENZ Therapeutics (NASDAQ:LENZ) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other brokerages have also commented on LENZ. HC Wainwright reissued a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Finally, William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Five 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

LENZ Therapeutics Stock Down 8.8%

Shares of LENZ Therapeutics stock opened at $10.48 on Friday. LENZ Therapeutics has a twelve month low of $10.44 and a twelve month high of $50.40. The business has a 50-day moving average price of $14.57 and a 200-day moving average price of $25.05. The firm has a market cap of $327.92 million, a price-to-earnings ratio of -4.97 and a beta of 0.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in LENZ Therapeutics during the third quarter valued at approximately $27,000. Bfsg LLC bought a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at approximately $30,000. State of Wyoming purchased a new position in shares of LENZ Therapeutics in the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of LENZ Therapeutics in the 4th quarter worth approximately $32,000. Finally, Osaic Holdings Inc. increased its position in shares of LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock valued at $34,000 after purchasing an additional 1,116 shares during the last quarter. 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.