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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.80.

Several brokerages recently commented on LENZ. HC Wainwright dropped their target price on LENZ Therapeutics from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup dropped their target price on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America dropped their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Weiss Ratings cut LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st.

LENZ Therapeutics Trading Up 0.7%

Shares of NASDAQ LENZ opened at $7.34 on Friday. LENZ Therapeutics has a 12-month low of $6.83 and a 12-month high of $50.40. The company has a market cap of $230.14 million, a PE ratio of -2.04 and a beta of 0.62. The stock has a 50 day simple moving average of $9.90 and a 200-day simple moving average of $16.57.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Monday, May 11th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.22). LENZ Therapeutics had a negative return on equity of 46.82% and a negative net margin of 519.30%.The firm had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.76 million. Sell-side analysts forecast that LENZ Therapeutics will post -4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in shares of LENZ Therapeutics by 51.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after buying an additional 477 shares in the last quarter. Quarry LP bought a new position in shares of LENZ Therapeutics in the third quarter valued at $27,000. Bfsg LLC bought a new position in shares of LENZ Therapeutics in the third quarter valued at $30,000. Rhumbline Advisers increased its holdings in shares of LENZ Therapeutics by 2.7% in the third quarter. Rhumbline Advisers now owns 25,019 shares of the company’s stock valued at $1,165,000 after buying an additional 656 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of LENZ Therapeutics by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 11,222 shares of the company’s stock valued at $523,000 after buying an additional 861 shares in the last quarter. 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.