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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $29.80.

Several equities analysts have recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Piper Sandler downgraded LENZ Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $39.00 to $12.00 in a report on Tuesday, May 12th. Citigroup decreased their price target on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Bank of America dropped their price target on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th.

Institutional Investors Weigh In On LENZ Therapeutics

A number of institutional investors have recently modified their holdings of LENZ. Quarry LP bought a new stake in LENZ Therapeutics in the third quarter worth approximately $27,000. State of Wyoming acquired a new stake in shares of LENZ Therapeutics in the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd bought a new stake in LENZ Therapeutics in the fourth quarter worth $32,000. Osaic Holdings Inc. boosted its holdings in LENZ Therapeutics by 2,146.2% in the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after buying an additional 477 shares during the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Price Performance

NASDAQ:LENZ remained flat at $5.89 during midday trading on Friday. The company had a trading volume of 1,028,482 shares, compared to its average volume of 719,438. The stock has a market capitalization of $184.65 million, a price-to-earnings ratio of -1.64 and a beta of 0.62. The firm has a fifty day moving average of $7.36 and a two-hundred day moving average of $11.51. LENZ Therapeutics has a twelve month low of $5.23 and a twelve month high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.22). LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. The firm had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.76 million. On average, sell-side analysts predict that LENZ Therapeutics will post -4.61 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.