Citigroup Forecasts Strong Price Appreciation for LENZ Therapeutics (NASDAQ:LENZ) Stock

LENZ Therapeutics (NASDAQ:LENZ) had its target price upped by equities research analysts at Citigroup from $44.00 to $47.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 77.43% from the company’s current price.

Separately, TD Cowen initiated coverage on shares of LENZ Therapeutics in a research report on Tuesday. They set a “buy” rating and a $60.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, LENZ Therapeutics has a consensus rating of “Buy” and an average price target of $41.67.

LENZ Therapeutics Price Performance

Shares of NASDAQ LENZ opened at $26.49 on Thursday. The business has a 50-day moving average of $24.15 and a 200-day moving average of $27.03. The stock has a market capitalization of $728.50 million, a price-to-earnings ratio of -5.55 and a beta of 0.58. 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 posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). On average, sell-side analysts expect that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of LENZ Therapeutics during the fourth quarter worth approximately $29,000. SG Americas Securities LLC lifted its holdings in LENZ Therapeutics by 20.7% during the 4th quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock worth $158,000 after purchasing an additional 935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in LENZ Therapeutics by 14.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company’s stock valued at $229,000 after purchasing an additional 1,005 shares during the period. Rhumbline Advisers grew its holdings in LENZ Therapeutics by 6.2% in the 4th quarter. Rhumbline Advisers now owns 18,754 shares of the company’s stock valued at $541,000 after buying an additional 1,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in LENZ Therapeutics by 162.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company’s stock worth $54,000 after buying an additional 1,151 shares during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

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.