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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.40.

A number of analysts have weighed in on LENZ shares. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Raymond James initiated coverage on LENZ Therapeutics in a research report on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of LENZ Therapeutics in a report on Thursday, November 7th.

LENZ Therapeutics Stock Up 0.6 %

NASDAQ:LENZ opened at $30.97 on Friday. LENZ Therapeutics has a twelve month low of $14.42 and a twelve month high of $38.93. The stock’s 50-day simple moving average is $31.07 and its 200 day simple moving average is $24.50.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter last year, the company earned ($1.33) earnings per share. As a group, sell-side analysts predict that LENZ Therapeutics will post -2.09 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new position in shares of LENZ Therapeutics in the 1st quarter worth about $4,621,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LENZ Therapeutics during the 2nd quarter worth approximately $1,437,000. Bank of New York Mellon Corp increased its stake in shares of LENZ Therapeutics by 255.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock valued at $687,000 after acquiring an additional 28,556 shares in the last quarter. Rhumbline Advisers increased its stake in shares of LENZ Therapeutics by 265.6% in the 2nd quarter. Rhumbline Advisers now owns 16,812 shares of the company’s stock valued at $291,000 after acquiring an additional 12,214 shares in the last quarter. Finally, BBR Partners LLC acquired a new position in shares of LENZ Therapeutics during the 2nd quarter valued at $346,000. Institutional investors own 54.32% of the company’s stock.

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.