LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Average Rating of “Buy” from Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have received a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $35.40.

LENZ has been the subject of several research reports. Raymond James initiated coverage on LENZ Therapeutics in a research report on Friday, September 27th. They issued an “outperform” rating and a $37.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research report on Thursday, November 7th.

LENZ Therapeutics Stock Performance

Shares of LENZ Therapeutics stock opened at $22.91 on Thursday. LENZ Therapeutics has a 1-year low of $14.42 and a 1-year high of $38.93. The firm has a fifty day simple moving average of $32.14 and a 200-day simple moving average of $26.36.

LENZ Therapeutics (NASDAQ:LENZ) last released 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 quarter in the prior year, the firm earned ($1.33) EPS. Equities research analysts anticipate that LENZ Therapeutics will post -2.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in LENZ Therapeutics by 18.7% in the third quarter. State Street Corp now owns 289,154 shares of the company’s stock worth $6,865,000 after purchasing an additional 45,600 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new position in LENZ Therapeutics during the third quarter worth $3,308,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of LENZ Therapeutics by 197.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock valued at $2,929,000 after acquiring an additional 81,901 shares during the period. Renaissance Technologies LLC boosted its stake in shares of LENZ Therapeutics by 28.4% in the 2nd quarter. Renaissance Technologies LLC now owns 60,166 shares of the company’s stock valued at $1,040,000 after purchasing an additional 13,300 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of LENZ Therapeutics in the 4th quarter worth about $1,270,000. 54.32% of the stock is owned by institutional investors.

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.