LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $35.40 Average PT from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $35.40.

A number of equities analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, November 7th. William Blair upgraded shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler restated an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a research report on Thursday, August 15th. Finally, Raymond James assumed coverage on shares of LENZ Therapeutics in a research report on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective for the company.

LENZ Therapeutics Stock Performance

Shares of NASDAQ LENZ opened at $36.25 on Wednesday. The firm has a 50 day moving average price of $27.89 and a two-hundred day moving average price of $22.88. LENZ Therapeutics has a 52-week low of $14.42 and a 52-week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. During the same period last year, the company earned ($1.33) earnings per share. On average, equities analysts forecast that LENZ Therapeutics will post -2.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LENZ. Barclays PLC increased its stake in LENZ Therapeutics by 273.1% in the third quarter. Barclays PLC now owns 16,463 shares of the company’s stock valued at $391,000 after purchasing an additional 12,051 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at about $286,000. Wellington Management Group LLP bought a new stake in LENZ Therapeutics in the 3rd quarter valued at about $585,000. State Street Corp increased its position in LENZ Therapeutics by 18.7% in the 3rd quarter. State Street Corp now owns 289,154 shares of the company’s stock valued at $6,865,000 after buying an additional 45,600 shares in the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new position in LENZ Therapeutics during the 3rd quarter worth approximately $3,308,000. 54.32% of the stock is owned by institutional investors.

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.