LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $56.40.

A number of research firms recently weighed in on LENZ. Piper Sandler lifted their price target on LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $40.00) on shares of LENZ Therapeutics in a research note on Monday, October 20th. Zacks Research lowered shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a report on Monday, December 15th.

Insider Transactions at LENZ Therapeutics

In related news, insider Shawn Olsson sold 10,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $26.10, for a total value of $261,000.00. Following the sale, the insider directly owned 4,733 shares in the company, valued at $123,531.30. The trade was a 67.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James W. Mccollum bought 10,500 shares of the company’s stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $22.79 per share, with a total value of $239,295.00. Following the completion of the acquisition, the director directly owned 10,500 shares in the company, valued at $239,295. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On LENZ Therapeutics

Several hedge funds have recently bought and sold shares of LENZ. Intech Investment Management LLC lifted its position in shares of LENZ Therapeutics by 4.3% in the second quarter. Intech Investment Management LLC now owns 9,251 shares of the company’s stock valued at $271,000 after acquiring an additional 380 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in LENZ Therapeutics by 51.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after purchasing an additional 477 shares during the last quarter. Quarry LP acquired a new position in LENZ Therapeutics in the 3rd quarter valued at about $27,000. Ameritas Investment Partners Inc. boosted its stake in shares of LENZ Therapeutics by 47.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock worth $53,000 after purchasing an additional 586 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in shares of LENZ Therapeutics during the third quarter worth about $30,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Stock Performance

Shares of LENZ Therapeutics stock opened at $14.87 on Friday. LENZ Therapeutics has a one year low of $14.84 and a one year high of $50.40. The company has a market cap of $465.28 million, a P/E ratio of -7.05 and a beta of 0.50. The firm has a fifty day moving average of $22.71 and a two-hundred day moving average of $31.95.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.08. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $4.64 million. As a group, equities analysts predict that LENZ Therapeutics will post -2.18 earnings per share for the current year.

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.