LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives $41.67 Average PT from Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $44.17.

A number of brokerages have commented on LENZ. TD Cowen initiated coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They set a “buy” rating and a $60.00 target price for the company. Piper Sandler assumed coverage on LENZ Therapeutics in a research note on Monday. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Citigroup lifted their target price on LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, March 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LENZ. Mirae Asset Global Investments Co. Ltd. bought a new stake in LENZ Therapeutics during the fourth quarter worth approximately $29,000. KLP Kapitalforvaltning AS purchased a new position in shares of LENZ Therapeutics in the 4th quarter worth approximately $46,000. Tower Research Capital LLC TRC increased its position in shares of LENZ Therapeutics by 162.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company’s stock valued at $54,000 after purchasing an additional 1,151 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in LENZ Therapeutics during the 4th quarter valued at $67,000. Finally, GAMMA Investing LLC lifted its position in LENZ Therapeutics by 5,254.1% in the first quarter. GAMMA Investing LLC now owns 5,836 shares of the company’s stock worth $150,000 after buying an additional 5,727 shares during the last quarter. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Stock Up 14.7 %

Shares of LENZ stock opened at $23.24 on Friday. The company has a 50 day moving average price of $23.61 and a 200-day moving average price of $27.12. LENZ Therapeutics has a 52 week low of $14.42 and a 52 week high of $38.93. The firm has a market capitalization of $640.10 million, a PE ratio of -4.87 and a beta of 0.43.

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