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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $46.60.

Several research firms have recently commented on LENZ. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, May 8th. Piper Sandler began coverage on shares of LENZ Therapeutics in a research note on Monday, April 14th. They set an “overweight” rating and a $51.00 price target on the stock.

Hedge Funds Weigh In On LENZ Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in LENZ Therapeutics by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock valued at $34,022,000 after acquiring an additional 59,630 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in LENZ Therapeutics in the fourth quarter valued at approximately $46,000. Wells Fargo & Company MN boosted its stake in LENZ Therapeutics by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 7,504 shares of the company’s stock valued at $217,000 after acquiring an additional 1,608 shares during the last quarter. Bank of America Corp DE boosted its stake in LENZ Therapeutics by 92.7% in the fourth quarter. Bank of America Corp DE now owns 38,246 shares of the company’s stock valued at $1,104,000 after acquiring an additional 18,395 shares during the last quarter. Finally, Barclays PLC boosted its stake in LENZ Therapeutics by 82.6% in the fourth quarter. Barclays PLC now owns 30,057 shares of the company’s stock valued at $867,000 after acquiring an additional 13,594 shares during the last quarter. 54.32% of the stock is owned by institutional investors.

LENZ Therapeutics Price Performance

LENZ opened at $31.62 on Monday. LENZ Therapeutics has a one year low of $16.53 and a one year high of $38.93. The company’s 50 day simple moving average is $30.79 and its 200-day simple moving average is $26.73. The stock has a market capitalization of $890.10 million, a P/E ratio of -17.86 and a beta of 0.42.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.02. As a group, analysts anticipate that LENZ Therapeutics will post -2.18 EPS for the current year.

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.