LENZ Therapeutics (NASDAQ:LENZ) Shares Up 6.8% – Still a Buy?

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) rose 6.8% during mid-day trading on Monday . The company traded as high as $37.93 and last traded at $37.93. Approximately 9,322 shares were traded during trading, a decline of 93% from the average daily volume of 136,030 shares. The stock had previously closed at $35.50.

Analysts Set New Price Targets

A number of research firms recently weighed in on LENZ. William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Finally, Raymond James began coverage on shares of LENZ Therapeutics in a research report on Friday, September 27th. They set an “outperform” rating and a $37.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $35.40.

LENZ Therapeutics Trading Up 2.7 %

The business’s 50-day simple moving average is $27.29 and its 200-day simple moving average is $22.59.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. During the same period last year, the business posted ($1.33) EPS. Equities analysts expect that LENZ Therapeutics, Inc. will post -2.09 EPS for the current year.

Institutional Trading of LENZ Therapeutics

A number of hedge funds have recently bought and sold shares of the company. American International Group Inc. acquired a new stake in shares of LENZ Therapeutics during the first quarter worth $44,000. SG Americas Securities LLC acquired a new position in shares of LENZ Therapeutics during the 3rd quarter valued at about $107,000. MetLife Investment Management LLC acquired a new stake in shares of LENZ Therapeutics in the third quarter worth approximately $182,000. GSA Capital Partners LLP purchased a new stake in LENZ Therapeutics in the third quarter valued at approximately $246,000. Finally, Squarepoint Ops LLC purchased a new position in LENZ Therapeutics during the second quarter worth approximately $181,000. Institutional investors and hedge funds 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.