LENZ Therapeutics (NASDAQ:LENZ) Stock Rating Lowered by Wall Street Zen

LENZ Therapeutics (NASDAQ:LENZ) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other analysts have also issued reports on the stock. William Blair reiterated an “outperform” rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Thursday, January 22nd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LENZ Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $55.50.

LENZ Therapeutics Trading Down 8.8%

LENZ opened at $10.48 on Friday. The stock’s 50-day moving average price is $14.57 and its 200 day moving average price is $24.95. LENZ Therapeutics has a 12-month low of $10.44 and a 12-month high of $50.40. The firm has a market cap of $327.92 million, a price-to-earnings ratio of -4.97 and a beta of 0.52.

Hedge Funds Weigh In On LENZ Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of LENZ Therapeutics by 15.5% during the 2nd quarter. Geode Capital Management LLC now owns 416,122 shares of the company’s stock worth $12,198,000 after buying an additional 55,730 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in shares of LENZ Therapeutics by 63.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,130 shares of the company’s stock valued at $121,000 after buying an additional 1,605 shares during the last quarter. Creative Planning acquired a new stake in LENZ Therapeutics during the 2nd quarter worth $412,000. Intech Investment Management LLC raised its stake in LENZ Therapeutics by 4.3% during the 2nd quarter. Intech Investment Management LLC now owns 9,251 shares of the company’s stock worth $271,000 after acquiring an additional 380 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in LENZ Therapeutics by 28.7% in the second quarter. JPMorgan Chase & Co. now owns 10,361 shares of the company’s stock valued at $304,000 after acquiring an additional 2,310 shares during the last quarter. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

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.