LENZ Therapeutics (NASDAQ:LENZ) Price Target Lowered to $38.00 at HC Wainwright

LENZ Therapeutics (NASDAQ:LENZ) had its price objective decreased by equities research analysts at HC Wainwright from $48.00 to $38.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 280.38% from the company’s previous close.

A number of other research firms have also weighed in on LENZ. Wall Street Zen lowered LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. Piper Sandler lowered LENZ Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $39.00 to $12.00 in a research note on Tuesday. Citigroup reduced their price objective on LENZ Therapeutics from $52.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Finally, Weiss Ratings lowered LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

LENZ Therapeutics Stock Performance

Shares of LENZ opened at $9.99 on Tuesday. The stock has a 50-day moving average of $10.36 and a two-hundred day moving average of $17.15. LENZ Therapeutics has a one year low of $8.25 and a one year high of $50.40. The stock has a market cap of $313.19 million, a P/E ratio of -3.56 and a beta of 0.62.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). The business had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.76 million. Analysts predict that LENZ Therapeutics will post -3.91 EPS for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV purchased a new position in shares of LENZ Therapeutics in the 1st quarter valued at about $827,000. C WorldWide Group Holding A S boosted its holdings in LENZ Therapeutics by 40.0% in the 1st quarter. C WorldWide Group Holding A S now owns 700,000 shares of the company’s stock worth $6,405,000 after buying an additional 200,000 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in LENZ Therapeutics by 13.0% in the 1st quarter. Bank of New York Mellon Corp now owns 49,797 shares of the company’s stock worth $456,000 after buying an additional 5,742 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in LENZ Therapeutics in the 1st quarter worth about $204,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in LENZ Therapeutics by 290.8% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 158,715 shares of the company’s stock worth $1,452,000 after buying an additional 118,100 shares during the last quarter. Hedge funds and other institutional investors 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.