LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.80.

Several equities research analysts have recently commented on LENZ shares. Weiss Ratings downgraded shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Citigroup decreased their target price on shares of LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen downgraded shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Piper Sandler cut shares of LENZ Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $39.00 to $12.00 in a report on Tuesday, May 12th. Finally, Bank of America cut their price target on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in LENZ Therapeutics by 377.4% during the first quarter. Bank of America Corp DE now owns 547,534 shares of the company’s stock worth $5,010,000 after purchasing an additional 432,846 shares during the last quarter. Royal Bank of Canada boosted its holdings in LENZ Therapeutics by 120.6% during the first quarter. Royal Bank of Canada now owns 95,235 shares of the company’s stock worth $870,000 after purchasing an additional 52,063 shares during the last quarter. Quantinno Capital Management LP purchased a new position in LENZ Therapeutics during the first quarter worth about $436,000. Affinity Asset Advisors LLC boosted its holdings in LENZ Therapeutics by 200.0% during the first quarter. Affinity Asset Advisors LLC now owns 100,000 shares of the company’s stock worth $915,000 after purchasing an additional 200,000 shares during the last quarter. Finally, KBC Group NV purchased a new position in LENZ Therapeutics during the first quarter worth about $827,000. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

LENZ Therapeutics Price Performance

NASDAQ:LENZ opened at $6.77 on Wednesday. The firm has a 50-day moving average of $8.48 and a 200-day moving average of $13.66. The company has a market cap of $212.24 million, a PE ratio of -1.88 and a beta of 0.58. LENZ Therapeutics has a one year low of $6.28 and a one year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Monday, May 11th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.22). The business had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.76 million. LENZ Therapeutics had a negative return on equity of 46.82% and a negative net margin of 519.30%. On average, equities research analysts expect that LENZ Therapeutics will post -4.61 earnings per share for the current fiscal year.

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.