LENZ Therapeutics (NASDAQ:LENZ) Stock Price Expected to Rise, Citigroup Analyst Says

LENZ Therapeutics (NASDAQ:LENZ) had its price objective boosted by analysts at Citigroup from $44.00 to $47.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 80.55% from the stock’s previous close.

Separately, TD Cowen started coverage on LENZ Therapeutics in a report on Tuesday. They set a “buy” rating and a $60.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, LENZ Therapeutics has an average rating of “Buy” and an average price target of $41.67.

LENZ Therapeutics Stock Performance

Shares of LENZ traded up $0.51 during mid-day trading on Thursday, reaching $26.03. 200,635 shares of the company’s stock were exchanged, compared to its average volume of 163,941. The business’s fifty day simple moving average is $24.09 and its 200-day simple moving average is $27.02. LENZ Therapeutics has a 52-week low of $14.42 and a 52-week high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, equities analysts predict that LENZ Therapeutics will post -2.18 EPS for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in LENZ Therapeutics during the fourth quarter worth about $29,000. KLP Kapitalforvaltning AS acquired a new stake in shares of LENZ Therapeutics in the 4th quarter worth approximately $46,000. Tower Research Capital LLC TRC increased its stake in LENZ Therapeutics by 162.3% in 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 in the last quarter. Virtus ETF Advisers LLC acquired a new position in LENZ Therapeutics during the fourth quarter worth $67,000. Finally, SG Americas Securities LLC boosted its position in LENZ Therapeutics by 20.7% during the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock worth $158,000 after purchasing an additional 935 shares in the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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.