LENZ Therapeutics (NASDAQ:LENZ) Coverage Initiated at SVB Leerink

Research analysts at SVB Leerink assumed coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $32.00 price target on the stock. SVB Leerink’s price target points to a potential upside of 60.64% from the company’s previous close.

Several other brokerages also recently weighed in on LENZ. William Blair began coverage on shares of LENZ Therapeutics in a research note on Monday. They issued an “outperform” rating for the company. Citigroup began coverage on shares of LENZ Therapeutics in a research note on Wednesday, April 10th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Piper Sandler began coverage on shares of LENZ Therapeutics in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $28.00 target price for the company.

LENZ Therapeutics Price Performance

NASDAQ:LENZ opened at $19.92 on Monday. LENZ Therapeutics has a 52-week low of $14.07 and a 52-week high of $29.82. The firm has a market cap of $165.73 million, a PE ratio of -1.28 and a beta of 0.20.

Insider Activity

In related news, Director Ra Capital Management, L.P. acquired 998,009 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was bought at an average price of $15.03 per share, with a total value of $15,000,075.27. Following the purchase, the director now directly owns 3,319,339 shares in the company, valued at approximately $49,889,665.17. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 38.40% of the company’s stock.

About LENZ Therapeutics

LENZ Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing aceclidine-based eye drop to enhance vision in patients diagnosed with presbyopia. 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.