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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $56.40.

A number of analysts have recently issued reports on LENZ shares. Piper Sandler boosted their price objective on LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Zacks Research cut LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a report on Monday, December 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 target price (up previously from $40.00) on shares of LENZ Therapeutics in a research note on Monday, October 20th.

Insider Transactions at LENZ Therapeutics

In other news, CFO Daniel R. Chevallard acquired 2,198 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $22.76 per share, for a total transaction of $50,026.48. Following the transaction, the chief financial officer directly owned 5,386 shares in the company, valued at approximately $122,585.36. This represents a 68.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director James W. Mccollum purchased 10,500 shares of the stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $22.79 per share, with a total value of $239,295.00. Following the completion of the acquisition, the director directly owned 10,500 shares of the company’s stock, valued at approximately $239,295. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On LENZ Therapeutics

A number of large investors have recently bought and sold shares of LENZ. Quarry LP bought a new stake in LENZ Therapeutics during the 3rd quarter worth about $27,000. Bfsg LLC acquired a new stake in shares of LENZ Therapeutics in the third quarter valued at approximately $30,000. Osaic Holdings Inc. lifted its holdings in LENZ Therapeutics by 2,146.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock valued at $34,000 after purchasing an additional 1,116 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of LENZ Therapeutics by 51.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock valued at $41,000 after purchasing an additional 477 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in LENZ Therapeutics by 47.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,817 shares of the company’s stock valued at $53,000 after acquiring an additional 586 shares during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Price Performance

Shares of LENZ opened at $14.62 on Thursday. The company’s fifty day moving average price is $19.56 and its 200 day moving average price is $30.15. The company has a market capitalization of $457.46 million, a PE ratio of -6.93 and a beta of 0.50. LENZ Therapeutics has a one year low of $14.43 and a one year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.08. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $4.64 million. Analysts anticipate that LENZ Therapeutics will post -2.18 earnings per share for the current year.

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.