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

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

Other research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Zacks Research downgraded shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, HC Wainwright reissued a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.40.

LENZ Therapeutics Price Performance

LENZ Therapeutics stock opened at $11.59 on Friday. The company has a market cap of $362.65 million, a price-to-earnings ratio of -5.49 and a beta of 0.50. LENZ Therapeutics has a 12 month low of $11.50 and a 12 month high of $50.40. The stock’s 50-day moving average is $16.26 and its 200-day moving average is $28.62.

Institutional Trading of LENZ Therapeutics

Hedge funds have recently made changes to their positions in the company. Versant Venture Management LLC purchased a new position in shares of LENZ Therapeutics in the third quarter valued at $123,758,000. Price T Rowe Associates Inc. MD lifted its holdings in LENZ Therapeutics by 307.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company’s stock worth $16,378,000 after buying an additional 772,411 shares in the last quarter. First Light Asset Management LLC purchased a new position in LENZ Therapeutics in the 3rd quarter valued at about $32,282,000. Adage Capital Partners GP L.L.C. grew its stake in shares of LENZ Therapeutics by 108.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after acquiring an additional 585,000 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of LENZ Therapeutics by 6,756.1% during the third quarter. Franklin Resources Inc. now owns 587,084 shares of the company’s stock valued at $27,346,000 after acquiring an additional 578,521 shares in the last quarter. Hedge funds and other 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.