LENZ Therapeutics (NASDAQ:LENZ) Coverage Initiated at TD Cowen

Equities researchers at TD Cowen started coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. TD Cowen’s price objective suggests a potential upside of 135.11% from the stock’s previous close.

LENZ Therapeutics Trading Up 4.6 %

NASDAQ:LENZ opened at $25.52 on Tuesday. The business’s 50-day simple moving average is $24.09 and its 200-day simple moving average is $27.02. LENZ Therapeutics has a fifty-two week low of $14.42 and a fifty-two week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). As a group, sell-side analysts anticipate that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in LENZ Therapeutics by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock valued at $34,022,000 after buying an additional 59,630 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in LENZ Therapeutics by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company’s stock valued at $23,760,000 after buying an additional 374,326 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of LENZ Therapeutics during the 4th quarter worth approximately $22,243,000. State Street Corp increased its position in shares of LENZ Therapeutics by 18.7% during the 3rd quarter. State Street Corp now owns 289,154 shares of the company’s stock worth $6,865,000 after purchasing an additional 45,600 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of LENZ Therapeutics by 16.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company’s stock worth $4,103,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

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.