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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $35.40.

LENZ has been the subject of several research analyst reports. Raymond James initiated coverage on LENZ Therapeutics in a research note on Friday, September 27th. They set an “outperform” rating and a $37.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, November 7th.

LENZ Therapeutics Price Performance

NASDAQ LENZ opened at $26.34 on Thursday. LENZ Therapeutics has a 12 month low of $14.42 and a 12 month high of $38.93. The stock has a 50 day moving average of $32.48 and a 200-day moving average of $26.12.

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

Institutional Investors Weigh In On LENZ Therapeutics

A number of institutional investors have recently modified their holdings of LENZ. SG Americas Securities LLC bought a new position in LENZ Therapeutics during the third quarter worth about $107,000. MetLife Investment Management LLC bought a new position in shares of LENZ Therapeutics during the third quarter worth approximately $182,000. GSA Capital Partners LLP acquired a new stake in shares of LENZ Therapeutics in the third quarter valued at approximately $246,000. Squarepoint Ops LLC bought a new stake in shares of LENZ Therapeutics in the second quarter valued at approximately $181,000. Finally, Jane Street Group LLC bought a new stake in shares of LENZ Therapeutics in the third quarter valued at approximately $286,000. Institutional investors own 54.32% of the company’s stock.

About LENZ Therapeutics

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.