LENZ Therapeutics, Inc. (NASDAQ:LENZ) Stock Has Consensus Target Price of $28.80

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $28.80.

LENZ has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating on shares of LENZ Therapeutics in a research note on Wednesday, August 12th. Piper Sandler cut their price objective on shares of LENZ Therapeutics from $12.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Zacks Research raised shares of LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. HC Wainwright reissued a “buy” rating on shares of LENZ Therapeutics in a report on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th.

Institutional Trading of LENZ Therapeutics

Several hedge funds have recently bought and sold shares of LENZ. Caitong International Asset Management Co. Ltd bought a new position in shares of LENZ Therapeutics during the 4th quarter valued at about $59,000. Aristides Capital LLC purchased a new position in shares of LENZ Therapeutics during the fourth quarter valued at about $168,000. Janney Montgomery Scott LLC bought a new stake in shares of LENZ Therapeutics in the first quarter worth about $99,000. Deutsche Bank AG bought a new stake in shares of LENZ Therapeutics in the second quarter worth about $93,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of LENZ Therapeutics in the second quarter worth about $102,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Stock Performance

Shares of LENZ Therapeutics stock traded down $0.06 during trading hours on Tuesday, hitting $3.55. The company’s stock had a trading volume of 23,948 shares, compared to its average volume of 900,778. The company has a market cap of $111.45 million, a PE ratio of -0.85 and a beta of 0.64. The business has a 50 day moving average price of $4.57 and a two-hundred day moving average price of $6.40. LENZ Therapeutics has a 12-month low of $3.35 and a 12-month high of $42.98.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Tuesday, August 11th. The company reported ($1.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.03. The firm had revenue of $5.49 million during the quarter, compared to analysts’ expectations of $2.38 million. LENZ Therapeutics had a negative return on equity of 53.39% and a negative net margin of 586.74%. As a group, research analysts anticipate that LENZ Therapeutics will post -4.18 earnings per share for the current year.

About LENZ Therapeutics

LENZ Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing pharmaceutical therapies for presbyopia, the age-related loss of near vision. The company’s approach is designed to improve near visual acuity by using aceclidine, a miotic agent intended to create a pinhole effect that can increase depth of focus while preserving distance vision.

LENZ’s lead product candidate, VIZZ, is an aceclidine hydrochloride ophthalmic solution developed as a once-daily prescription eye drop for adults with presbyopia.