LENZ Therapeutics (NASDAQ:LENZ) Trading Up 5.8% – Still a Buy?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s stock price traded up 5.8% during trading on Tuesday . The stock traded as high as $34.82 and last traded at $34.82. 19,614 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 136,690 shares. The stock had previously closed at $32.92.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LENZ shares. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, November 7th. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and set a $36.00 price target on shares of LENZ Therapeutics in a report on Thursday, August 15th. Finally, Raymond James started coverage on LENZ Therapeutics in a research note on Friday, September 27th. They set an “outperform” rating and a $37.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $35.40.

LENZ Therapeutics Price Performance

The company’s 50 day simple moving average is $26.27 and its 200 day simple moving average is $22.07.

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

Institutional Trading of LENZ Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in LENZ Therapeutics in the first quarter valued at $362,000. Vanguard Group Inc. acquired a new stake in shares of LENZ Therapeutics in the first quarter valued at approximately $4,621,000. American International Group Inc. purchased a new position in shares of LENZ Therapeutics during the first quarter worth approximately $44,000. Jacobs Levy Equity Management Inc. acquired a new stake in LENZ Therapeutics during the 1st quarter worth $830,000. Finally, Ikarian Capital LLC purchased a new stake in shares of LENZ Therapeutics in the first quarter valued at about $1,898,000. 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.