Raymond James Initiates Coverage on LENZ Therapeutics (NASDAQ:LENZ)

Raymond James started coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a report released on Friday, Marketbeat.com reports. The firm issued an outperform rating and a $37.00 target price on the stock.

LENZ has been the topic of several other research reports. HC Wainwright initiated coverage on shares of LENZ Therapeutics in a research note on Monday, August 12th. They set a buy rating and a $38.00 target price on the stock. William Blair raised LENZ Therapeutics to a strong-buy rating in a report on Friday, August 30th. Finally, Piper Sandler reaffirmed an overweight rating and set a $36.00 price target on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, LENZ Therapeutics presently has a consensus rating of Buy and an average price target of $35.40.

LENZ Therapeutics Trading Down 1.2 %

Shares of NASDAQ:LENZ opened at $23.74 on Friday. The company has a 50 day moving average price of $22.93. LENZ Therapeutics has a 52 week low of $14.07 and a 52 week high of $29.82.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. Sell-side analysts predict that LENZ Therapeutics will post -2.81 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LENZ. RA Capital Management L.P. bought a new stake in shares of LENZ Therapeutics during the 1st quarter worth $93,313,000. Vanguard Group Inc. acquired a new position in shares of LENZ Therapeutics in the 1st quarter valued at $4,621,000. Jennison Associates LLC purchased a new position in LENZ Therapeutics in the 1st quarter worth about $3,009,000. Ikarian Capital LLC acquired a new stake in LENZ Therapeutics during the 1st quarter worth about $1,898,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in LENZ Therapeutics during the second quarter valued at about $1,437,000. 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.