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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $35.40.

A number of brokerages have weighed in on LENZ. Raymond James initiated coverage on LENZ Therapeutics in a report on Friday, September 27th. They issued an “outperform” rating and a $37.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, November 7th.

LENZ Therapeutics Stock Down 3.1 %

LENZ opened at $26.34 on Thursday. LENZ Therapeutics has a twelve month low of $14.42 and a twelve month high of $38.93. The company has a 50-day simple moving average of $32.48 and a 200 day simple moving average of $26.12.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter in the prior year, the company posted ($1.33) EPS. Sell-side analysts anticipate that LENZ Therapeutics will post -2.09 EPS for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of LENZ. Barclays PLC grew its holdings in LENZ Therapeutics by 273.1% during the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock worth $391,000 after acquiring an additional 12,051 shares during the last quarter. Jane Street Group LLC acquired a new stake in LENZ Therapeutics in the third quarter valued at $286,000. Wellington Management Group LLP bought a new position in LENZ Therapeutics during the 3rd quarter worth $585,000. State Street Corp lifted its holdings in 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 buying an additional 45,600 shares during the period. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at about $3,308,000. 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.