LENZ Therapeutics, Inc. (NASDAQ:LENZ) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.80.

A number of research firms recently commented on LENZ. Zacks Research upgraded LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Piper Sandler dropped their target price on LENZ Therapeutics from $12.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings downgraded LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th. HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research report on Tuesday, July 7th. Finally, Citigroup reiterated a “buy” rating on shares of LENZ Therapeutics in a research note on Wednesday, August 12th.

LENZ Therapeutics Stock Down 1.7%

LENZ traded down $0.06 during mid-day trading on Tuesday, reaching $3.55. 23,948 shares of the company traded hands, compared to its average volume of 900,778. The stock has a market capitalization of $111.45 million, a P/E ratio of -0.85 and a beta of 0.64. The company’s fifty day moving average price is $4.57 and its 200-day moving average price is $6.40. LENZ Therapeutics has a 52-week low of $3.35 and a 52-week high of $42.98.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.02) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.03. The firm had revenue of $5.49 million for the quarter, compared to analysts’ expectations of $2.38 million. LENZ Therapeutics had a negative return on equity of 53.39% and a negative net margin of 586.74%. As a group, sell-side analysts forecast that LENZ Therapeutics will post -4.18 earnings per share for the current fiscal year.

Institutional Trading of LENZ Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of LENZ Therapeutics in the fourth quarter worth $59,000. Deutsche Bank AG purchased a new position in shares of LENZ Therapeutics during the 2nd quarter valued at $93,000. Janney Montgomery Scott LLC purchased a new position in shares of LENZ Therapeutics during the 1st quarter valued at $99,000. Susquehanna Fundamental Investments LLC bought a new position in LENZ Therapeutics in the 2nd quarter worth $102,000. Finally, Aristides Capital LLC bought a new position in LENZ Therapeutics in the 4th quarter worth $168,000. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Company Profile

LENZ Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing pharmaceutical therapies for presbyopia, the age-related loss of near vision. The company’s approach is designed to improve near visual acuity by using aceclidine, a miotic agent intended to create a pinhole effect that can increase depth of focus while preserving distance vision.

LENZ’s lead product candidate, VIZZ, is an aceclidine hydrochloride ophthalmic solution developed as a once-daily prescription eye drop for adults with presbyopia.