LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Average Rating of “Buy” by Brokerages

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been assigned an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $35.40.

LENZ has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Raymond James initiated coverage on shares of LENZ Therapeutics in a research note on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective on the stock. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $36.00 target price on shares of LENZ Therapeutics in a research note on Thursday, August 15th.

LENZ Therapeutics Stock Up 5.3 %

LENZ stock opened at $34.65 on Wednesday. The firm’s 50-day simple moving average is $26.48 and its 200 day simple moving average is $22.20. 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 quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.09. During the same quarter last year, the business posted ($1.33) earnings per share. As a group, analysts forecast that LENZ Therapeutics will post -2.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its holdings in LENZ Therapeutics by 273.1% in the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock valued at $391,000 after acquiring an additional 12,051 shares during the last quarter. Jane Street Group LLC acquired a new stake in LENZ Therapeutics during the third quarter valued at approximately $286,000. Wellington Management Group LLP bought a new stake in LENZ Therapeutics during the third quarter worth approximately $585,000. State Street Corp boosted its holdings in LENZ Therapeutics by 18.7% during the third 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 in the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new position in LENZ Therapeutics in the third quarter worth approximately $3,308,000. 54.32% of the stock is owned by institutional investors and hedge funds.

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.